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Guideline Value for RAJEEV GANDHI NAGAR 1st Cross Street (271,272,278)

₹2750/sq.ft.

The guideline value for Rajeev Gandhi Nagar 1st Cross Street (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 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Cross Street (271,272,278)

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RAJEEV GANDHI NAGAR 1st Cross Street (271,272,278) guideline value

The current guideline value for RAJEEV GANDHI NAGAR 1st Cross Street (271,272,278) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - I.

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

The guideline value for this street has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, followed by a further increase of 10% to the current rate of Rs 2,750 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 686%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 RAJEEV GANDHI NAGAR 1st Cross Street (271,272,278) above this median.

Stamp duty and registration fee for property in RAJEEV GANDHI NAGAR 1st Cross Street (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, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates.

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

The Sub Registrar Office that covers RAJEEV GANDHI NAGAR 1st Cross Street (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 critical factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of transaction.

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

Frequently asked questions

What is the current guideline value for RAJEEV GANDHI NAGAR 1st Cross Street?

The current guideline value for RAJEEV GANDHI NAGAR 1st Cross Street (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 from Rs 350 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 686% over the years.

What is the land classification for RAJEEV GANDHI NAGAR 1st Cross Street?

RAJEEV GANDHI NAGAR 1st Cross Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for RAJEEV GANDHI NAGAR 1st Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Nerkundram with their guideline values?

Other streets in Nerkundram include Rajeev Gandhi Nagar, which has a guideline value of Rs 3,450 per sq.ft, along with several others all valued at Rs 2,750 per sq.ft for 2024.