Guideline Value for Rajendra Nagar 11th Street

Rajendra Nagar 11th Street guideline value

The current guideline value of Rajendra Nagar 11th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, which falls under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajendra Nagar 11th Street has changed

The guideline value for Rajendra Nagar 11th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, the value saw a significant increase to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,700 per sq.ft in 2024, reflecting a change of +13% from 2023 to 2024 and a total increase of +49% from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by +13%. The fluctuations in the guideline value indicate changes in the local real estate landscape, with the current value now set at Rs 1,700 per sq.ft as of the latest revision.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Rajendra Nagar 11th Street is below this median.

• Rajendra Nagar 10th 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 11th 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, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajendra Nagar 11th Street?

The Sub Registrar Office that covers Rajendra Nagar 11th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Neelankarai. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted within the legal framework set by the local authorities.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall costs associated with property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Rajendra Nagar 11th Street?

The current guideline value of Rajendra Nagar 11th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Rajendra Nagar 11th Street?

The Neelankarai Sub Registrar Office handles registrations for Rajendra Nagar 11th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Rajendra Nagar 11th Street?

Rajendra Nagar 11th Street is classified as Residential Class III Type - I, indicating its designation for residential use within the local planning framework.