Guideline Value for RAJIV GANDHI 2ND CROSS STREET

Rajiv Gandhi 2nd Cross Street guideline value

The current guideline value of Rajiv Gandhi 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Rajiv Gandhi 2nd Cross Street has changed

The guideline value for Rajiv Gandhi 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. In 2017, it decreased to Rs 804 per sq.ft. However, the most recent 2024 revision shows a significant increase, bringing the value back up to Rs 1,320 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2023.

From 2012 to 2017, the guideline value decreased by 33%. In contrast, there was a 64% increase from 2017 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Rajiv Gandhi 2nd Cross Street below that median.

• Rajiv Gandhi 2nd Cross Lane: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi 2nd Street: Rs 1,110 per sq.ft (2024)
• Rajiv Gandhi 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Rajesh Nagar Park Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Gandhi 2nd Cross Street?

The Rajiv Gandhi 2nd Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It determines the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi 2nd Cross Street?

The current guideline value of Rajiv Gandhi 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,320 per sq.ft in 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Rajiv Gandhi 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Rajiv Gandhi 2nd Cross Street?

The land classification for Rajiv Gandhi 2nd Cross Street is Residential Class IV Type - II.