Guideline Value for Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road)

Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road) guideline value

The current guideline value of Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road) has changed

The guideline value for Rajalakshmi Nagar 9th Cross Street has seen significant changes over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in 2012, marking a 500% increase. However, it then decreased to Rs 8,040 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 12,000 per sq.ft in 2023, followed by a further increase to Rs 13,200 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Rajalakshmi Nagar 9th Cross Street above this median.

• Rajalakshmi Nagar 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Nagar 7th Cross Street (Facing 100 Ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Rajalakshmi Nagar 7th Cross Street: Rs 13,200 per sq.ft (2024)
• Raja Lane: Rs 4,950 per sq.ft (2024)
• Rajalakshmi Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total cost for these fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road)?

The Sub Registrar Office that covers Rajalakshmi Nagar 9th 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 Velachery

The guideline value is a crucial factor during the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence the sale price and the associated costs. Buyers and sellers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Rajalakshmi Nagar 9th Cross Street?

The current guideline value of Rajalakshmi Nagar 9th Cross Street (100 ft. Bye-Pass Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification for this street?

The land classification for Rajalakshmi Nagar 9th Cross Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it covers Rajalakshmi Nagar 9th Cross Street.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.