Guideline Value for RAJIV NAGAR 5TH CROSS STREET

Rajiv Nagar 5th Cross Street guideline value

The current guideline value of Rajiv Nagar 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajiv Nagar 5th Cross Street has changed

The guideline value for Rajiv Nagar 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 155 per sq.ft. This value increased to Rs 175 per sq.ft in 2003, marking a rise of 13%. The next significant change occurred in 2007, where the guideline value jumped to Rs 1,189 per sq.ft, representing a substantial increase of 579%. Following this, in 2012, the value was recorded at Rs 3,000 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw a notable increase to Rs 2,010 per sq.ft, showing a rise of 49% from 2012.

In 2023, the guideline value was set at Rs 3,000 per sq.ft, and the most recent revision in 2024 brought it to Rs 3,300 per sq.ft, an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 2029%. There are no other revisions recorded for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current figure for Rajiv Nagar 5th Cross Street.

• Rajiv Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Annexe: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Extension 1 And 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Nagar 5th Cross Street?

The Sub Registrar Office that covers Rajiv Nagar 5th 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 Perungudi

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees, ensuring that the transaction is recorded accurately. This value helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Rajiv Nagar 5th Cross Street?

The current guideline value of Rajiv Nagar 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 155 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 2029%.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi with a guideline value of Rs 3,300 per sq.ft include Rajiv Nagar 4th Cross Street, Rajiv Nagar 6th Cross Street, Rajiv Nagar Annexe, Rajiv Nagar Extension 1 And 2nd Cross Street, Rajiv Nagar 1st Cross Street, and Rajiv Nagar 1st Main Road.

Where is the Neelankarai Sub Registrar Office located?

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 the stamp duty calculated for properties in Rajiv Nagar 5th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000.