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Guideline Value for RAJEEV GANDHI NAGAR 2nd Main Road (271,272,278)

₹2750/sq.ft.

The guideline value for Rajeev Gandhi Nagar 2nd 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 2nd Main Road (271,272,278)

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RAJEEV GANDHI NAGAR 2nd Main Road (271,272,278) guideline value

The current guideline value for RAJEEV GANDHI NAGAR 2nd 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 2nd Main Road (271,272,278) has changed

The guideline value for RAJEEV GANDHI NAGAR 2nd Main Road has seen significant changes over the years. In 2002, the value was Rs 120 per sq.ft. This increased to Rs 133 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 350 per sq.ft in 2007, reflecting a 163% increase. By 2012, the guideline value had risen to Rs 2,500 per sq.ft, which was a substantial increase of 614% compared to the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and in 2024, it increased to Rs 2,750 per sq.ft, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 2,192%. The register has no figures for this street for the years not mentioned above.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for RAJEEV GANDHI NAGAR 2nd Main Road above that median.

Stamp duty and registration fee for property in RAJEEV GANDHI NAGAR 2nd 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 cost for these fees to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers RAJEEV GANDHI NAGAR 2nd Main Road (271,272,278)?

The Sub Registrar Office that covers RAJEEV GANDHI NAGAR 2nd Main Road 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 an important factor in property transactions in Nerkundram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the guideline value in their area, as it impacts the overall cost of the transaction. The guideline value ensures transparency in property dealings and helps in assessing the fair value of properties in the region.

Frequently asked questions

What is the current guideline value for RAJEEV GANDHI NAGAR 2nd Main Road?

The current guideline value for RAJEEV GANDHI NAGAR 2nd 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 changed significantly 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 this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for this street?

The Virugambakkam Sub Registrar Office is responsible for property registrations on RAJEEV GANDHI NAGAR 2nd Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for RAJEEV GANDHI NAGAR 2nd Main Road?

The land classification for RAJEEV GANDHI NAGAR 2nd Main Road is Residential Class III Type - I.