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Guideline Value for RAJEEV GANDHI NAGAR 3rd Cross Street(271,272,278)

₹2750/sq.ft.

The guideline value for Rajeev Gandhi Nagar 3rd 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 3rd Cross Street(271,272,278)

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RAJEEV GANDHI NAGAR 3rd Cross Street(271,272,278) guideline value

The current guideline value of RAJEEV GANDHI NAGAR 3rd 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 3rd Cross Street(271,272,278) has changed

Over the years, the guideline value of RAJEEV GANDHI NAGAR 3rd Cross Street has seen significant changes. Starting from the 2007 revision, where the value was Rs 350 per sq.ft, it increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 614%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting an increase of 10% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen 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

Nerkundram village has a total of 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 3rd Cross Street(271,272,278) above that median.

Stamp duty and registration fee for property in RAJEEV GANDHI NAGAR 3rd 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 the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RAJEEV GANDHI NAGAR 3rd Cross Street(271,272,278)?

The Sub Registrar Office that covers RAJEEV GANDHI NAGAR 3rd Cross Street 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 essential factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the registration of the property. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of RAJEEV GANDHI NAGAR 3rd Cross Street?

The current guideline value of RAJEEV GANDHI NAGAR 3rd 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 significantly from Rs 350 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, with various increases and one decrease along the way.

What is the land classification of this street?

RAJEEV GANDHI NAGAR 3rd Cross Street(271,272,278) is classified as Residential Class III Type - I.

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

The Virugambakkam Sub Registrar Office covers this area and is 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 higher of the guideline value or the sale price. For example, a plot of 1,000 sq.ft at the current guideline value would incur a total fee of Rs 2,47,500.