Guideline Value for Rajaji 2nd Street

Rajaji 2nd Street guideline value

The current guideline value of Rajaji 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajaji 2nd Street has changed

The guideline value for Rajaji 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 279 per sq.ft, which increased to Rs 317 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 700 per sq.ft in 2007 and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before climbing to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 2,800 per sq.ft.

Between these revisions, the most notable changes include a 257% increase from 2007 to 2012 and a 49% increase from 2017 to 2023. The guideline value has increased overall by 904% from 2002 to 2024.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft in 2024. The median guideline value in the village is Rs 3,900 per sq.ft, placing Rajaji 2nd Street's 2024 figure below that median.

• Rajaji 1st Street: Rs 2,800 per sq.ft (2024)
• Railway Lane: Rs 3,300 per sq.ft (2024)
• Poonthottam Colony Street: Rs 4,400 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 5,500 per sq.ft (2024)
• Poonthottam 1st Street: Rs 5,500 per sq.ft (2024)
• Pookkara Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajaji 2nd Street?

The Sub Registrar Office that covers Rajaji 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration.

Frequently asked questions

What is the current guideline value of Rajaji 2nd Street?

The current guideline value of Rajaji 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 279 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 904%.

What is the land classification for Rajaji 2nd Street?

Rajaji 2nd Street is classified as Residential Class II Type - I.

Where can I find the registration office for Rajaji 2nd Street?

The registration office for Rajaji 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Rajaji 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at the current rate of 7%.