Guideline Value for RAJENDRA SALAI

Rajendra Salai guideline value

The current guideline value of Rajendra Salai 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 Salai has changed

Over the years, the guideline value of Rajendra Salai has seen significant changes. The 2007 revision recorded a value of Rs 750 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, before rising to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 saw a substantial increase of 367%, while the overall increase from 2007 to 2024 stands at 420%. The register has no figures for the years 2002 and 2003 for this street.

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 value of these streets is Rs 2,200 per sq.ft, placing Rajendra Salai's 2024 figure above this median.

• Rajendra Garden Salai: Rs 3,900 per sq.ft (2024)
• Rajendra Cross Street: 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 Salai

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Rajendra Salai?

The Sub Registrar Office that covers Rajendra Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. 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 during the registration process of property transactions in Enjambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, with the higher of the two being used to determine the applicable fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Rajendra Salai?

The current guideline value of Rajendra Salai 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 increased significantly from Rs 750 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 420% over this period.

What is the median guideline value in Enjambakkam?

The median guideline value for the 253 streets in Enjambakkam is Rs 2,200 per sq.ft, with Rajendra Salai's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Rajendra Salai?

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.

Where is the Sub Registrar Office for Rajendra Salai located?

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