Guideline Value for RAJEEV GANDHI NAGAR ANNEXE 2nd Street

RAJEEV GANDHI NAGAR ANNEXE 2nd Street guideline value

The current guideline value of RAJEEV GANDHI NAGAR ANNEXE 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under Residential Class III Type - I land classification.

How the guideline value of RAJEEV GANDHI NAGAR ANNEXE 2nd Street has changed

The guideline value for RAJEEV GANDHI NAGAR ANNEXE 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 120 per sq.ft. This increased to Rs 133 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 350 per sq.ft in 2007, which was a substantial increase of 163%. However, the value decreased to Rs 2,500 per sq.ft in 2012, reflecting a decline of 33%. The 2017 revision saw a notable increase to Rs 1,675 per sq.ft, which was a 49% rise from the previous figure. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, before increasing to Rs 2,750 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2,192%. There are no figures available for some revisions for this street, specifically for the years 2012 to 2017.

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 for these streets is Rs 2,200 per sq.ft, placing RAJEEV GANDHI NAGAR ANNEXE 2nd Street above this median.

• RAJEEV GANDHI NAGAR ANNEXE 1st Street: Rs 2,750 per sq.ft (2024)
• RAJEEV GANDHI NAGAR ANNEXE Main Road: Rs 2,750 per sq.ft (2024)
• Rajeev Gandhi Nagar Annexe: Rs 2,750 per sq.ft (2024)
• RAJEEV GANDHI NAGAR Main Road (271,272,278): Rs 2,750 per sq.ft (2024)
• RAJEEV NAGAR (S.No.338,343): Rs 2,750 per sq.ft (2024)
• RAJEEV GANDHI NAGAR 4th Cross Street(271,272,278): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in RAJEEV GANDHI NAGAR ANNEXE 2nd Street

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RAJEEV GANDHI NAGAR ANNEXE 2nd Street?

The RAJEEV GANDHI NAGAR ANNEXE 2nd Street falls under the jurisdiction of 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 property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of RAJEEV GANDHI NAGAR ANNEXE 2nd Street?

The current guideline value of RAJEEV GANDHI NAGAR ANNEXE 2nd Street 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 are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Which office handles property registrations for this street?

The Virugambakkam Sub Registrar Office handles property registrations for RAJEEV GANDHI NAGAR ANNEXE 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of RAJEEV GANDHI NAGAR ANNEXE 2nd Street?

RAJEEV GANDHI NAGAR ANNEXE 2nd Street is classified as Residential Class III Type - I land.