Guideline Value for RAJIV GANDHI NAGAR - Jawaharlal Nehru Street

RAJIV GANDHI NAGAR - Jawaharlal Nehru Street guideline value

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

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

The guideline value for this street has undergone several revisions over the years. In 2002, the 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 500 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it saw a decline to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft. There are no figures available for the years in between these revisions for this street.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, the increase was 49%. However, from 2012 to 2017, there was a decrease of 33%. The rise from 2007 to 2012 was substantial at 500%, while the increase from 2003 to 2007 was 203%. The value also rose by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 2100%.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with the 2024 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 - Jawaharlal Nehru Street.

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

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

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers RAJIV GANDHI NAGAR - Jawaharlal Nehru Street?

The Sub Registrar Office that covers RAJIV GANDHI NAGAR - Jawaharlal Nehru Street 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 Nesapakkam

The guideline value is a crucial factor when buying or selling property in Nesapakkam. 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 stamp duty and registration fees during the transaction process.

When a property is sold, the sale price must be at least equal to the guideline value to ensure proper registration. This helps in maintaining transparency and fairness in property transactions, ensuring that all parties are aware of the value being registered.

Frequently asked questions

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

The current guideline value for RAJIV GANDHI NAGAR - Jawaharlal Nehru 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 seen several revisions, starting from Rs 150 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024. The changes reflect various increases and decreases over the years.

What is the land classification for this street?

The land classification for RAJIV GANDHI NAGAR - Jawaharlal Nehru Street is Residential Class II Type - I.

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

The Virugambakkam Sub Registrar Office covers RAJIV GANDHI NAGAR - Jawaharlal Nehru Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the 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, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.