Guideline Value for Rajakilpakkam 2nd Cross Street

Rajakilpakkam 2nd Cross Street guideline value

The current guideline value of Rajakilpakkam 2nd Cross Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Rajakilpakkam 2nd Cross Street has changed

The guideline value for Rajakilpakkam 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then rose again to Rs 850 per sq.ft in the 2024 revision, marking a 21% increase from the previous year. Notably, the register has no figures for this street in 2002, 2003, or 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 21%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Rajakilpakkam 2nd Cross Street is below this median.

• Rajakilpakkam 1st Cross Street: Rs 850 per sq.ft (2024)
• Rajakilpakkam 3rd Cross Street: Rs 850 per sq.ft (2024)
• Rajakilpakkam Main Road: Rs 850 per sq.ft (2024)
• Rajakipakam & Seliyur Ganesh Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Rajaji Nagar (Velu Street): Rs 1,600 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty is charged at 7%, which totals Rs 59,500, and the registration fee at 2% amounts to Rs 17,000. Together, the total cost for these fees is Rs 76,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajakilpakkam 2nd Cross Street?

The Sub Registrar Office that covers Rajakilpakkam 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, thereby ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Rajakilpakkam 2nd Cross Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the land classification of Rajakilpakkam 2nd Cross Street?

Rajakilpakkam 2nd Cross Street is classified as Residential Class IV Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 850 per sq.ft, the total guideline value is Rs 8,50,000.