Guideline Value for Rajendra Nagar 10th Street

Rajendra Nagar 10th Street guideline value

The current guideline value of Rajendra Nagar 10th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajendra Nagar 10th Street has changed

The guideline value for Rajendra Nagar 10th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft as per the 2024 revision, marking a 13% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 13%. The register does not contain 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 guideline value in this area is Rs 2,200 per sq.ft, making Rajendra Nagar 10th Street's 2024 figure below that median.

• Rajendra Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 5th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Therefore, the total cost for stamp duty and registration would be Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajendra Nagar 10th Street?

The Sub Registrar Office that covers Rajendra Nagar 10th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they comply with legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of Rajendra Nagar 10th Street?

The current guideline value of Rajendra Nagar 10th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Rajendra Nagar 10th Street?

Rajendra Nagar 10th Street is classified as Residential Class III Type - I, indicating its purpose for residential development.

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.

How is the stamp duty calculated for properties in Rajendra Nagar 10th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.