Guideline Value for RAJIV GANDHI 4TH CROSS STREET

Rajiv Gandhi 4th Cross Street guideline value

The current guideline value of Rajiv Gandhi 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajiv Gandhi 4th Cross Street has changed

The guideline value for Rajiv Gandhi 4th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows an increase of 10%. The 2023 to 2024 revision reflects a 10% increase, indicating a steady rise in the guideline value over the last year.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Rajiv Gandhi 4th Cross Street.

• Rajiv Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi 4th Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi 5th Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Rajiv Gandhi 4th Cross Street?

The Rajiv Gandhi 4th 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 Medavakkam

The guideline value is a critical factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi 4th Cross Street?

The current guideline value of Rajiv Gandhi 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Rajiv Gandhi 4th Cross Street?

The land classification for Rajiv Gandhi 4th Cross Street is Residential Class I Type - I.

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

The Sub Registrar Office covering Rajiv Gandhi 4th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Medavakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. In the case of Rajiv Gandhi 4th Cross Street, the current guideline value is Rs 2,200 per sq.ft.