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Guideline Value

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Guideline Value for RAJEEV NAGAR (S.No.338,343)

₹2750/sq.ft.

The guideline value for Rajeev Nagar (s.no.338,343) 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 ₹250 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹109 /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 Nagar (s.no.338,343)

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RAJEEV NAGAR (S.No.338,343) guideline value

The current guideline value of RAJEEV NAGAR (S.No.338,343) is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of RAJEEV NAGAR (S.No.338,343) has changed

The guideline value for RAJEEV NAGAR has seen several revisions over the years. In 2002, the value was Rs 109 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a significant rise of 129%. The value then rose to Rs 350 per sq.ft in 2007, an increase of 40%. Following this, there was a substantial jump to Rs 2,500 per sq.ft in 2012, reflecting a 614% increase. However, the value decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The next revision in 2023 brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the current value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,423%. It is important to note that there are no figures available for revisions in years other than those listed.

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 in 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing RAJEEV NAGAR's 2024 figure above this median.

Stamp duty and registration fee for property in RAJEEV NAGAR (S.No.338,343)

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 be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers RAJEEV NAGAR (S.No.338,343)?

The Sub Registrar Office that covers RAJEEV NAGAR 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 plays a crucial role in property transactions in Nerkundram. It is the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When registering a property, the authorities will assess the guideline value to determine the applicable fees. Therefore, it is important for both buyers and sellers to understand the guideline value to ensure compliance with local regulations and to accurately budget for their property transactions.

Frequently asked questions

What is the current guideline value of RAJEEV NAGAR?

The current guideline value of RAJEEV NAGAR (S.No.338,343) 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 109 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2,423% over this period.

What is the land classification for RAJEEV NAGAR?

RAJEEV NAGAR is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates for properties in RAJEEV NAGAR?

The stamp duty for properties in RAJEEV NAGAR is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for RAJEEV NAGAR located?

The Virugambakkam Sub Registrar Office, which covers RAJEEV NAGAR, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.