Guideline Value for Rajendra Nagar 1st Street

Rajendra Nagar 1st Street guideline value

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

How the guideline value of Rajendra Nagar 1st Street has changed

The guideline value for Rajendra Nagar 1st Street has seen several revisions over the years. The earliest figure recorded was Rs 80 per sq.ft in 2002, which increased to Rs 87 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged significantly to Rs 250 per sq.ft, reflecting a 187% increase. The next revision in 2012 saw the value rise to Rs 1,500 per sq.ft, a substantial increase of 500% from the previous figure.

In 2017, the guideline value was revised to Rs 1,005 per sq.ft, which was a decrease of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, followed by the current rate of Rs 1,700 per sq.ft in 2024, representing a 13% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,025%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Rajendra Nagar 1st Street's 2024 figure is below the median.

• Rajendra Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 10th 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 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that 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 Rajendra Nagar 1st Street?

The Rajendra Nagar 1st Street is covered by 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 details.

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

The guideline value plays a critical role during property registration in Neelankarai. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in accordance with the local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with the property transaction. 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 1st Street?

The current guideline value of Rajendra Nagar 1st 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 significantly from Rs 80 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 2,025% over the years.

What is the median guideline value in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, which is higher than the current value of Rajendra Nagar 1st Street.

What are the stamp duty and registration fees for properties in Rajendra Nagar 1st Street?

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 1st Street?

The Neelankarai Sub Registrar Office handles registrations for Rajendra Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.