Guideline Value for Rajendra Nagar 2nd Street

Rajendra Nagar 2nd Street guideline value

The current guideline value of Rajendra Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Rajendra Nagar 2nd Street has changed

The guideline value for Rajendra Nagar 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 80 per sq.ft. This increased to Rs 87 per sq.ft in 2003, marking a 9% rise. By 2007, the value jumped significantly to Rs 250 per sq.ft, reflecting a 187% increase. In 2012, the figure rose to Rs 1,500 per sq.ft, a notable increase of 500%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, representing a decline of 33%. The guideline value then increased to Rs 1,500 per sq.ft in 2023, followed by the current value of Rs 1,700 per sq.ft in 2024, which is a 13% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2025%. There are no recorded figures for revisions in years not mentioned in the register.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value 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, placing Rajendra Nagar 2nd Street's 2024 value below that median.

• Rajendra Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 10th 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 2nd 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 higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajendra Nagar 2nd Street?

The Sub Registrar Office that covers Rajendra Nagar 2nd 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value at the time of sale.

Frequently asked questions

What is the current guideline value of Rajendra Nagar 2nd Street?

The current guideline value of Rajendra Nagar 2nd 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 increased from Rs 80 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 2025% over the years.

What is the median guideline value in Neelankarai?

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

What are the stamp duty and registration fees for properties in Rajendra Nagar 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,53,000, based on the current guideline value.

Where is the Sub Registrar Office for Rajendra Nagar 2nd Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.