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Guideline Value

Corporate

Guideline Value for Raja Nagar 1st Cross Street

₹4400/sq.ft.

The guideline value for Raja Nagar 1st Cross Street in Neelankarai village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Neelankarai

Village

Neelankarai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Raja Nagar 1st Cross Street

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Raja Nagar 1st Cross Street guideline value

The current guideline value of Raja Nagar 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Raja Nagar 1st Cross Street has changed

Over the years, the guideline value for Raja Nagar 1st Cross Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased to Rs 4,000 per sq.ft in the 2023 revision, and it has now risen to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the adjustment from 2012 to 2017 showed a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Raja Nagar 1st Cross Street's 2024 guideline value above this median.

Stamp duty and registration fee for property in Raja Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a combined total of Rs 3,96,000. 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 own stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Nagar 1st Cross Street?

The Sub Registrar Office that covers Raja Nagar 1st 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 Neelankarai

The guideline value is a crucial factor in the registration of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied based on the value of the property being transferred. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Raja Nagar 1st Cross Street?

The current guideline value of Raja Nagar 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 2,680 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

Where can I find the Neelankarai Sub Registrar Office?

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

What is the median guideline value for streets in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft. Raja Nagar 1st Cross Street's 2024 figure is above this median.

How is stamp duty calculated for properties in Raja Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,08,000.