Guideline Value for RAJENDRAN GARDEN II

Rajendran Garden II guideline value

The current guideline value of Rajendran Garden II is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Rajendran Garden II has changed

In 2012, the guideline value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, representing a decline of 33%. The value then increased significantly to Rs 1,000 per sq.ft in 2023, and further rose to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, indicating that Rajendran Garden II's 2024 figure is below this median.

• Rajendran Garen - I: Rs 3,300 per sq.ft (2024)
• Rajeswari Garden: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)
• Rajam Garen: Rs 1,100 per sq.ft (2024)
• Ramachari Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendran Garden II

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 more details.

Which Sub Registrar Office covers Rajendran Garden II?

The Rajendran Garden II property falls under 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 Chemmancheri

The guideline value is crucial during property registration as it determines the stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to assess the official value of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajendran Garden II?

The current guideline value of Rajendran Garden II is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Rajendran Garden II?

Rajendran Garden II is classified as Residential Class IV Type - II.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated for properties in Rajendran Garden II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.