Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for RAJEEV GANDHI NAGAR 1st Main Road (271,272,278)

₹2750/sq.ft.

The guideline value for Rajeev Gandhi Nagar 1st Main Road (271,272,278) in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹133 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹120 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rajeev Gandhi Nagar 1st Main Road (271,272,278)

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

RAJEEV GANDHI NAGAR 1st Main Road (271,272,278) guideline value

The current guideline value of RAJEEV GANDHI NAGAR 1st Main Road (271,272,278) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of RAJEEV GANDHI NAGAR 1st Main Road (271,272,278) has changed

The guideline value for RAJEEV GANDHI NAGAR 1st Main Road has seen several revisions over the years. The register shows that in 2002, the value was Rs 120 per sq.ft, which increased to Rs 133 per sq.ft in 2003, marking an increase of 11%. Following this, the value surged significantly to Rs 350 per sq.ft in 2007, reflecting a 163% increase. The guideline value then rose dramatically to Rs 2,500 per sq.ft in 2012, a substantial increase of 614%. However, it decreased to Rs 1,675 per sq.ft in 2017, representing a decrease of 33%. The value was then revised to Rs 2,500 per sq.ft in 2023, followed by the latest revision to Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,192%. Notably, there are no figures available for the revisions in years other than those specified.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of RAJEEV GANDHI NAGAR 1st Main Road (271,272,278) is above this median.

Stamp duty and registration fee for property in RAJEEV GANDHI NAGAR 1st Main Road (271,272,278)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers RAJEEV GANDHI NAGAR 1st Main Road (271,272,278)?

The Sub Registrar Office that covers RAJEEV GANDHI NAGAR 1st Main Road (271,272,278) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it directly influences the cost of registration. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, impacting the overall financial commitment involved in the transaction.

Frequently asked questions

What is the current guideline value of RAJEEV GANDHI NAGAR 1st Main Road?

The current guideline value of RAJEEV GANDHI NAGAR 1st Main Road (271,272,278) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 120 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2,192% over the years.

What is the land classification for this area?

The land classification for RAJEEV GANDHI NAGAR 1st Main Road is Residential Class III Type - I.

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

The Sub Registrar Office covering RAJEEV GANDHI NAGAR 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 guideline value would be Rs 27,50,000, with stamp duty and registration fees amounting to Rs 2,47,500.