Guideline Value for RAJIV GANDHI NAGAR - Ganesan Street

RAJIV GANDHI NAGAR - Ganesan Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Ganesan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of RAJIV GANDHI NAGAR - Ganesan Street has changed

The guideline value for RAJIV GANDHI NAGAR - Ganesan Street has seen several revisions over the years. In 2002, the guideline value was Rs 150 per sq.ft, which increased to Rs 165 per sq.ft in 2003. Following this, the value rose significantly to Rs 325 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017 before increasing again to Rs 3,000 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,100%.

Guideline values in Nesapakkam

Nesapakkam has 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for RAJIV GANDHI NAGAR - Ganesan Street.

• RAJIV GANDHI NAGAR - Jawaharlal Nehru Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Mahendravarman Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Arunachalam Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Arjunana Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Moovendar Cross Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Moovendar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in RAJIV GANDHI NAGAR - Ganesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RAJIV GANDHI NAGAR - Ganesan Street?

The RAJIV GANDHI NAGAR - Ganesan 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 details.

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

The guideline value is a crucial factor during property transactions in Nesapakkam. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is not undervalued for the purpose of taxation. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value for RAJIV GANDHI NAGAR - Ganesan Street?

The current guideline value for RAJIV GANDHI NAGAR - Ganesan Street is Rs 3,300 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 150 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,100% over this period.

What is the land classification for this street?

RAJIV GANDHI NAGAR - Ganesan Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for RAJIV GANDHI NAGAR - Ganesan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at the rate of 7%.