Guideline Value for Rajendra Naicken Street

Rajendra Naicken Street guideline value

The current guideline value of Rajendra Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Rajendra Naicken Street has changed

The guideline value for Rajendra Naicken Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 620 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking an increase of 384%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value saw a substantial rise again, reaching Rs 3,000 per sq.ft in 2023, and further increasing to Rs 3,300 per sq.ft in the 2024 revision, a 10% increase from the previous year.

There are no recorded guideline values for Rajendra Naicken Street in the years 2002 and 2003. Overall, from 2007 to 2024, there has been an increase of 432% in the guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which means that Rajendra Naicken Street's 2024 figure is below this median.

• Rajeev Gandhi Street: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Rajaraja Cholan Street: Rs 3,300 per sq.ft (2024)
• Rajunaicken Street (Raju St): Rs 6,600 per sq.ft (2024)
• Rajammbal Street Block 85: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajendra Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajendra Naicken Street?

The Sub Registrar Office that covers Rajendra Naicken Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the applicable stamp duty and registration fees.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Rajendra Naicken Street?

The current guideline value of Rajendra Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 620 per sq.ft in 2007, Rs 3,000 in 2012, Rs 2,010 in 2017, Rs 3,000 in 2023, and Rs 3,300 in 2024.

What is the land classification for Rajendra Naicken Street?

Rajendra Naicken Street is classified as Residential Class IV Type - II.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Rajendra Naicken Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,31,000.