Guideline Value for RAJIV NAGAR EXTENTION 1 AND 2ND CROSS STREET

Rajiv Nagar Extention 1 And 2nd Cross Street guideline value

The current guideline value for Rajiv Nagar Extention 1 And 2nd 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 Extention 1 And 2nd Cross Street has changed

Over the years, the guideline value for Rajiv Nagar Extention 1 And 2nd Cross Street has seen several revisions. The 2007 revision set the value at Rs 1,189 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. The 2017 revision saw a significant jump to Rs 2,010 per sq.ft, followed by another increase to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft. There are no figures available for the revisions in 2002 and 2003 for this street.

The changes between these revisions highlight the fluctuations in the guideline value. From 2007 to 2012, there was a substantial increase of 152%. However, the value decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 178%.

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 the same as the guideline value for Rajiv Nagar Extention 1 And 2nd Cross Street.

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

Stamp duty and registration fee for property in Rajiv Nagar Extention 1 And 2nd 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 be 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.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Nagar Extention 1 And 2nd Cross Street?

The Sub Registrar Office that covers Rajiv Nagar Extention 1 And 2nd 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

When buying or selling property in Perungudi, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and reflects the minimum value at which a property can be registered.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The stamp duty and registration fees are calculated based on this value, ensuring that all transactions are compliant with local regulations.

Frequently asked questions

What is the current guideline value of Rajiv Nagar Extention 1 And 2nd Cross Street?

The current guideline value of Rajiv Nagar Extention 1 And 2nd 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 multiple times, starting from Rs 1,189 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajiv Nagar Extention 1 And 2nd Cross Street?

The Sub Registrar Office for Rajiv Nagar Extention 1 And 2nd 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.

How is the guideline value determined?

The guideline value is determined by the government and reflects the minimum value for property registration in the area. It is revised periodically to reflect market conditions and other factors.