Guideline Value for RAJAN NAGAR 2ND CROSS STREET

Rajan Nagar 2nd Cross Street guideline value

The current guideline value of Rajan Nagar 2nd Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Rajan Nagar 2nd Cross Street has changed

The guideline value for Rajan Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023 and further rose to the current rate of Rs 1,700 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 13% increase. Overall, from 2012 to 2024, the guideline value has increased by 13%.

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 2nd Cross Street's 2024 figure below this median.

• Rajan Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Rajan Nagar 1st 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 2nd 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 at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajan Nagar 2nd Cross Street?

The Sub Registrar Office covering Rajan Nagar 2nd 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 is a crucial factor in property transactions in Enjambakkam. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair price for the transaction. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajan Nagar 2nd Cross Street?

The current guideline value of Rajan Nagar 2nd 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 several times, from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Rajan Nagar 2nd Cross Street?

Rajan Nagar 2nd Cross Street is classified as Residential Class IV Type - I.

Where can I find the registration office for this area?

The registration office for Rajan Nagar 2nd 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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would amount to Rs 1,19,000.