Guideline Value for RAJENDRA CROSS STREET

Rajendra Cross Street guideline value

The current guideline value of Rajendra Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Rajendra Cross Street has changed

Over the years, the guideline value of Rajendra Cross Street has seen significant changes. In the 2007 revision, the value was Rs 750 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 367%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, which is an 11% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 420%. The changes between the revisions highlight the fluctuations in the guideline value over time, with notable increases and decreases impacting the current rate.

Guideline values in Enjambakkam

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

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

Stamp duty and registration fee for property in Rajendra Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajendra Cross Street?

The Sub Registrar Office that covers Rajendra 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 an essential factor in property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value will influence the stamp duty and registration fees that are applicable, ensuring that these costs are calculated based on the established rates.

When registering a property, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The registration process will require adherence to the guideline value to facilitate a smooth transaction and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajendra Cross Street?

The current guideline value of Rajendra Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 750 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 420% over this period.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000 for these fees.

Which Sub Registrar Office is responsible for Rajendra Cross Street?

The Neelankarai Sub Registrar Office is responsible for Rajendra 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 Rajendra Cross Street?

Rajendra Cross Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.