Guideline Value for RAJALAKSHMI NAGAR 5th CROSS STREET

RAJALAKSHMI NAGAR 5th CROSS STREET guideline value

The current guideline value of RAJALAKSHMI NAGAR 5th CROSS STREET is Rs 2,200 per sq.ft. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of RAJALAKSHMI NAGAR 5th CROSS STREET has changed

The guideline value for RAJALAKSHMI NAGAR 5th CROSS STREET has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This figure was then revised to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. The subsequent revision in 2023 increased the value to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure for RAJALAKSHMI NAGAR 5th CROSS STREET above the median.

• Rajalakshmi Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Rajalakshmi Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Rajalakshmi Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• RAJALAKSHMI NAGAR 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• Rajalakshmi Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Rajalakshmi Nagar 7th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in RAJALAKSHMI NAGAR 5th CROSS STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. 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 further assistance.

Which Sub Registrar Office covers RAJALAKSHMI NAGAR 5th CROSS STREET?

The Sub Registrar Office that covers RAJALAKSHMI NAGAR 5th CROSS STREET is 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 is a crucial factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when registering a property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of RAJALAKSHMI NAGAR 5th CROSS STREET?

The current guideline value of RAJALAKSHMI NAGAR 5th CROSS STREET is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for RAJALAKSHMI NAGAR 5th CROSS STREET?

The land classification for RAJALAKSHMI NAGAR 5th CROSS STREET is Residential Class II Type - I.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with RAJALAKSHMI NAGAR 5th CROSS STREET's 2024 figure being above this median.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for RAJALAKSHMI NAGAR 5th CROSS STREET is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.