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Guideline Value

Corporate

Guideline Value for RAJEEV GANDHI NAGAR

₹3450/sq.ft.

The guideline value for Rajeev Gandhi Nagar in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 3450 per sq.ft, effective 1 July 2024. It was Rs 3135 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹3450 /sq.ft.
From 1-4-2023 ₹3135 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2100 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
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

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Rajeev Gandhi Nagar guideline value

The current guideline value of Rajeev Gandhi Nagar is Rs 3,450 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village under the Virugambakkam Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Rajeev Gandhi Nagar has changed

The guideline value for Rajeev Gandhi Nagar has undergone several revisions over the years. The oldest recorded figure is from 2017, where the guideline value was Rs 2,100 per sq.ft. This increased to Rs 3,135 per sq.ft in 2023, marking a significant rise of 49%. With the latest revision in 2024, the guideline value has further increased to Rs 3,450 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nerkundram

In Nerkundram, a total of 476 streets fall 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's current value above this median.

Stamp duty and registration fee for property in Rajeev Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,450 per sq.ft, the total guideline value amounts to Rs 34,50,000. The stamp duty at 7% would be Rs 2,41,500, and the registration fee at 2% would be Rs 69,000, bringing the total cost to Rs 3,10,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajeev Gandhi Nagar?

The Rajeev Gandhi Nagar area falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

During the registration process, the guideline value ensures that properties are not undervalued, thereby maintaining a standard for property transactions in the area. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajeev Gandhi Nagar?

The current guideline value of Rajeev Gandhi Nagar is Rs 3,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,100 per sq.ft to Rs 3,450 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Rajeev Gandhi Nagar?

For a property valued at Rs 34,50,000, the stamp duty would be Rs 2,41,500, and the registration fee would be Rs 69,000, totaling Rs 3,10,500.

Which Sub Registrar Office covers Rajeev Gandhi Nagar?

The Virugambakkam Sub Registrar Office covers Rajeev Gandhi Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Rajeev Gandhi Nagar?

Rajeev Gandhi Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.