Guideline Value for RAJALAKSHMI NAGAR 4TH STREET

Rajalakshmi Nagar 4th Street guideline value

The current guideline value of Rajalakshmi Nagar 4th Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Rajalakshmi Nagar 4th Street has changed

Over the years, the guideline value for Rajalakshmi Nagar 4th Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, it has risen to Rs 1,320 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, comparing the values from 2012 to 2024, there is an increase of 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Rajalakshmi Nagar 4th Street's 2024 figure below this median.

• RAJALAKSHMI NAGAR 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• RAJALAKSHMI NAGAR 5th CROSS STREET: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Rajalakshmi Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• RAJALAKSHMI NAGAR 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar 6th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajalakshmi Nagar 4th Street?

The Rajalakshmi Nagar 4th Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Pallikaranai. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives due revenue from property transactions.

When a property is sold, the sale price must be equal to or greater than the guideline value. If the sale price is lower than the guideline value, the higher amount will be used for calculating the associated fees, which ensures compliance with the regulations set by the state government.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar 4th Street?

The current guideline value of Rajalakshmi Nagar 4th Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

What is the land classification of Rajalakshmi Nagar 4th Street?

Rajalakshmi Nagar 4th Street is classified under Residential Class IV Type - II. This classification indicates the type of development permitted in this area.

What are the stamp duty and registration fees for properties in Rajalakshmi Nagar 4th Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Rajalakshmi Nagar 4th Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Rajalakshmi Nagar 4th Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.