Guideline Value for RAJALAKSHMI ENCLAVE PHASE - II

Rajalakshmi Enclave Phase - II guideline value

The current guideline value of Rajalakshmi Enclave Phase - II is Rs 550 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 III Type - II.

How the guideline value of Rajalakshmi Enclave Phase - II has changed

The guideline value for Rajalakshmi Enclave Phase - II has undergone several revisions over the years. The oldest available figure is from 2017, which was Rs 335 per sq.ft. In 2023, this value increased to Rs 500 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nemam

In Nemam, there are 14 streets under the Avadi SRO that have a guideline value for 2024, ranging from Rs 330 to Rs 1,590 per sq.ft, with a median value of Rs 740 per sq.ft. The guideline value for Rajalakshmi Enclave Phase - II is below this median.

• Rajalakshmi Enclave Phase I: Rs 360 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 - II

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is essential to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajalakshmi Enclave Phase - II?

The Rajalakshmi Enclave Phase - II falls under the jurisdiction of the Avadi Sub Registrar Office. The address is 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 critical factor during property registration in Nemam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Rajalakshmi Enclave Phase - II?

The current guideline value of Rajalakshmi Enclave Phase - II is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 49,500, based on the guideline value of Rs 5,50,000.

Which Sub Registrar Office is responsible for Rajalakshmi Enclave Phase - II?

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

Are there other streets in Nemam with different guideline values?

Yes, there are several other streets in Nemam with varying guideline values. For example, Rajalakshmi Enclave Phase I has a guideline value of Rs 360 per sq.ft, while Sri Srinivasa Nagar has a value of Rs 1,050 per sq.ft in 2024.