Guideline Value for Rajendra Nagar 9th Street

Rajendra Nagar 9th Street guideline value

The current guideline value of Rajendra Nagar 9th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Rajendra Nagar 9th Street has changed

The guideline value for Rajendra Nagar 9th Street has seen several revisions over the years. The oldest recorded revision is from 2012, which set the value at Rs 1,500 per sq.ft. This was followed by a decrease in 2017 to Rs 1,005 per sq.ft, marking a significant drop of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 13%. It is important to note that there are no figures available in the register 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, placing the 2024 figure for Rajendra Nagar 9th Street below this median.

• Rajendra Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar Pirathana Salai: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Rajendra Nagar 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Nagar 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total 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, bringing the total cost for these fees to 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. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajendra Nagar 9th Street?

The Sub Registrar Office that covers Rajendra Nagar 9th 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 additional information.

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

The guideline value is a crucial factor when buying or selling property in Neelankarai, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers should be aware of these values to make informed decisions during the property registration process.

Frequently asked questions

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

The current guideline value of Rajendra Nagar 9th 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 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It was previously 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 9th Street?

Rajendra Nagar 9th Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office covers Rajendra Nagar 9th Street and 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,19,000.