Guideline Value for RAJIV NAGAR ANNEXE

Rajiv Nagar Annexe guideline value

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

How the guideline value of Rajiv Nagar Annexe has changed

The guideline value for Rajiv Nagar Annexe has seen several revisions over the years. In 2007, the guideline value was set at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revisions saw a substantial increase, with the value rising to Rs 3,000 per sq.ft in 2023 and then reaching Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The changes between the revisions highlight the fluctuations in property valuation in this area, with a notable increase of 49% from 2017 to 2023.

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, with the median being Rs 3,300 per sq.ft. Rajiv Nagar Annexe's current guideline value aligns perfectly with this median.

• Rajiv Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Extension 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 Annexe

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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration fees would be 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajiv Nagar Annexe?

The Sub Registrar Office that covers Rajiv Nagar Annexe 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 in property transactions in Perungudi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on an official assessment of property value.

Additionally, the guideline value helps maintain transparency in property transactions, providing a standardized reference point for buyers and sellers. It is essential for all parties involved to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajiv Nagar Annexe?

The current guideline value of Rajiv Nagar Annexe 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the stamp duty rate for properties in Rajiv Nagar Annexe?

The stamp duty rate for properties in Rajiv Nagar Annexe is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajiv Nagar Annexe?

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

How is the guideline value determined for properties in Perungudi?

The guideline value for properties in Perungudi is determined by the Registration Department's guideline value register, which assesses property values based on various factors and revisions over the years.