Guideline Value for RAJIV AVENUE

Rajiv Avenue guideline value

The current guideline value of Rajiv Avenue is Rs 4,500 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Rajiv Avenue has changed

Over the years, the guideline value of Rajiv Avenue has seen significant changes. The earliest recorded revision in 2007 was Rs 1,652 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a 142% rise. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The following revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,500 per sq.ft, reflecting a 13% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to its 2012 level. Overall, the guideline value has increased by 172% from 2007 to 2024, showcasing a substantial growth over the years. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. Rajiv Avenue's 2024 guideline value is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,500 per sq.ft, the guideline value amounts to Rs 45,00,000. The stamp duty at 7% would be Rs 3,15,000, and the registration fee at 2% would be Rs 90,000, totaling Rs 4,05,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Avenue?

The Sub Registrar Office that covers Rajiv Avenue 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must consider the guideline value as it directly impacts the overall cost of the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing market conditions. This helps maintain transparency and fairness in property dealings, ensuring that both parties are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Rajiv Avenue?

The current guideline value of Rajiv Avenue is Rs 4,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,652 per sq.ft in 2007 to Rs 4,500 per sq.ft in 2024, reflecting an overall increase of 172% over the years.

What are the stamp duty and registration fees for properties in Rajiv Avenue?

For a property valued at Rs 45,00,000 in Rajiv Avenue, the stamp duty would be Rs 3,15,000 and the registration fee would be Rs 90,000, totaling Rs 4,05,000.

Which office handles property registrations for Rajiv Avenue?

The Neelankarai Sub Registrar Office handles property registrations for Rajiv Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded accurately and transparently.