Guideline Value for RAJALAKSHMI NAGAR 5TH STREET

Rajalakshmi Nagar 5th Street guideline value

The current guideline value of Rajalakshmi Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Rajalakshmi Nagar 5th Street has changed

Over the years, the guideline value of Rajalakshmi Nagar 5th Street has seen several revisions. The earliest available revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. The overall change from 2012 to 2024 reflects a modest increase of 10%.

From 2017 to 2023, there was a substantial increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Rajalakshmi Nagar 5th Street.

• Rajalakshmi Avenue 4th Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 3rd Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 2nd Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 1st Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Rajalakshmi Nagar 5th Street?

The Sub Registrar Office that covers Rajalakshmi Nagar 5th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar 5th Street?

The current guideline value of Rajalakshmi Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Rajalakshmi Nagar 5th Street?

Rajalakshmi Nagar 5th Street is classified as Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Rajalakshmi Nagar 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.