Guideline Value for RAJALAKSHMI ENCLAVE PHASE I

Rajalakshmi Enclave Phase I guideline value

The current guideline value of Rajalakshmi Enclave Phase I is Rs 360 per sq.ft, effective from 1 July 2024. This property is located in Nemam village and falls under the Avadi SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Rajalakshmi Enclave Phase I has changed

The guideline value for Rajalakshmi Enclave Phase I has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 360 per sq.ft, which is an increase of 7% from the 2023 revision of Rs 335 per sq.ft. The 2023 figure remained unchanged from the 2017 revision, which was also Rs 335 per sq.ft. The register has no figures for the years 2012, 2007, 2003, and 2002 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 7%. This reflects the changes in the value over the years, with the most significant change occurring between 2023 and 2024.

Guideline values in Nemam

In Nemam, there are 14 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,590 per sq.ft. The median value for these streets is Rs 740 per sq.ft, placing Rajalakshmi Enclave Phase I's 2024 figure below that median.

• Rajalakshmi Enclave Phase - II: Rs 550 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 440 per sq.ft (2024)
• Radha Nagar: Rs 710 per sq.ft (2024)
• Ms Smart City: Rs 770 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 1,050 per sq.ft (2024)
• Surya Garden: Rs 551 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Enclave Phase I

For a 1,000 sq.ft plot at the current rate of Rs 360 per sq.ft, the guideline value amounts to Rs 3,60,000. The stamp duty at 7% would be Rs 25,200, and the registration fee at 2% would be Rs 7,200, totaling Rs 32,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajalakshmi Enclave Phase I?

The Sub Registrar Office that covers Rajalakshmi Enclave Phase I is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nemam

The guideline value is a crucial factor in property transactions in Nemam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value helps ensure that the transaction is recorded accurately and fairly in the official registry.

When purchasing property, buyers should be aware that the guideline value may differ from the sale price. The stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajalakshmi Enclave Phase I?

The current guideline value of Rajalakshmi Enclave Phase I is Rs 360 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2023 to Rs 360 per sq.ft in 2024, marking a 7% increase. The value remained the same from 2017 to 2023.

What are the guideline values of other streets in Nemam?

Other streets in Nemam have varying guideline values, with rates ranging from Rs 330 to Rs 1,590 per sq.ft. The median value for these streets is Rs 740 per sq.ft.

What is the stamp duty for property in Rajalakshmi Enclave Phase I?

The stamp duty for property in Rajalakshmi Enclave Phase I is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 25,200 based on the current guideline value.

Where can I find the Sub Registrar Office for Rajalakshmi Enclave Phase I?

The Avadi Sub Registrar Office covers Rajalakshmi Enclave Phase I. It is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.