Guideline Value for RAJIV NAGAR 6TH CROSS STREET

Rajiv Nagar 6th Cross Street guideline value

The current guideline value of Rajiv Nagar 6th 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 6th Cross Street has changed

The guideline value for Rajiv Nagar 6th Cross Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,189 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 152%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 178%. It is important to note that the register does not have figures for the years 2002 and 2003 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 value for these streets is Rs 3,300 per sq.ft, which matches the current guideline value of Rajiv Nagar 6th Cross Street.

• Rajiv Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Annexe: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Extention 1 And 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Ist Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Ist Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar 6th 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 the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Nagar 6th Cross Street?

The Sub Registrar Office that covers Rajiv Nagar 6th 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 details.

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

The guideline value is crucial when buying or selling property, as it determines the stamp duty and registration fees applicable during the registration process. Buyers must consider the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transaction.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Rajiv Nagar 6th Cross Street?

The current guideline value of Rajiv Nagar 6th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,189 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 178% over the years.

What are the stamp duty and registration fees for property in Rajiv Nagar 6th Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Rajiv Nagar 6th Cross Street?

The Neelankarai Sub Registrar Office covers Rajiv Nagar 6th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Rajiv Nagar 6th Cross Street?

Rajiv Nagar 6th Cross Street is classified as Residential Class II Type - II.