Guideline Value for RAJAN NAGAR 1ST CROSS STREET

Rajan Nagar 1st Cross Street guideline value

The current guideline value of Rajan Nagar 1st Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Rajan Nagar 1st Cross Street has changed

The guideline value for Rajan Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The value saw a significant increase in 2023 to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 13%. Overall, from 2012 to 2024, there has been an increase of 13% in the guideline value.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Rajan Nagar 1st Cross Street's 2024 figure below that median.

• Rajan Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Rajan Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Rajan Nagar Salai: Rs 1,700 per sq.ft (2024)
• Raja Meenakshi Street: Rs 4,500 per sq.ft (2024)
• Rajendra Cross Street: Rs 3,900 per sq.ft (2024)
• Rajendra Garden Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajan Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajan Nagar 1st Cross Street?

The Sub Registrar Office that covers Rajan Nagar 1st Cross 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 information.

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

The guideline value plays a crucial role when buying or selling property in Enjambakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. This value is set by the government and is regularly revised to reflect changes in the real estate market.

When registering a property, buyers must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and legally binding.

Frequently asked questions

What is the current guideline value of Rajan Nagar 1st Cross Street?

The current guideline value of Rajan Nagar 1st Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

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

For a property valued at Rs 17,00,000, the stamp duty is Rs 1,19,000 and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Rajan Nagar 1st Cross Street?

The Neelankarai Sub Registrar Office covers Rajan Nagar 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Rajan Nagar 1st Cross Street?

The land classification for Rajan Nagar 1st Cross Street is Residential Class IV Type - I.