Guideline Value for RAJU 2 ND STREET

Raju 2 Nd Street guideline value

The current guideline value of Raju 2 Nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Raju 2 Nd Street has changed

The guideline value for Raju 2 Nd Street has seen several revisions over the years. In the 2012 revision, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. This was a significant drop of 33%. The value then increased to Rs 3,500 per sq.ft in the 2023 revision, followed by another increase to Rs 3,900 per sq.ft in the 2024 revision, marking an 11% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,300 per sq.ft, making the 2024 figure for Raju 2 Nd Street above this median.

• Raju 1 St Street: Rs 3,900 per sq.ft (2024)
• Raju 3 Rd Street: Rs 3,900 per sq.ft (2024)
• Raju 4 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 5 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 6 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 7 Th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raju 2 Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raju 2 Nd Street?

The Sub Registrar Office that covers Raju 2 Nd 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 Okkiyamthuraipakkam

The guideline value plays a crucial role during the registration of property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raju 2 Nd Street?

The current guideline value of Raju 2 Nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Raju 2 Nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, resulting in a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Raju 2 Nd Street?

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

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

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the higher of the guideline value or sale price is considered for these calculations.