Guideline Value for Rajaji Nagar 2nd Cross Street

Rajaji Nagar 2nd Cross Street guideline value

The current guideline value of Rajaji Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajaji Nagar 2nd Cross Street has changed

The guideline value register for Rajaji Nagar 2nd Cross Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 2,200 per sq.ft.

As there are no figures available for the previous revisions, the 2024 revision stands as the only recorded value for this street. There have been no changes in the guideline value between the revisions noted above.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, making the 2024 figure for Rajaji Nagar 2nd Cross Street below this median.

• Rajaji Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 2nd Cross Street?

The Sub Registrar Office that covers Rajaji Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is crucial during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value that the property is recognized at for legal purposes. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Rajaji Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no recorded figures for Rajaji Nagar 2nd Cross Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available value is from the 2024 revision.

What is the land classification of Rajaji Nagar 2nd Cross Street?

Rajaji Nagar 2nd Cross Street is classified as Residential Class II Type - I. This classification is important for determining the guideline value and applicable regulations.

Where can I find the Sub Registrar Office for Rajaji Nagar 2nd Cross Street?

The Velacheri Sub Registrar Office covers Rajaji Nagar 2nd Cross Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 1,98,000 in stamp duty and registration fees.