Guideline Value for RAJIV GANDHI NAGAR - Mahendravarman Street

RAJIV GANDHI NAGAR - Mahendravarman Street guideline value

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

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

The guideline value for RAJIV GANDHI NAGAR - Mahendravarman Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 150 per sq.ft. This increased to Rs 165 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, which was a 203% increase. In 2012, the value was Rs 3,000 per sq.ft, reflecting a 500% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,100%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Nesapakkam

Nesapakkam village has 148 streets under the Virugambakkam SRO, with guideline values for 2024 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 matches the current value for RAJIV GANDHI NAGAR - Mahendravarman Street.

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

Stamp duty and registration fee for property in RAJIV GANDHI NAGAR - Mahendravarman 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. Together, the total cost for these fees would be 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.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The RAJIV GANDHI NAGAR - Mahendravarman Street falls under 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 during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the registration fees reflect the true value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of RAJIV GANDHI NAGAR - Mahendravarman Street?

The current guideline value of RAJIV GANDHI NAGAR - Mahendravarman 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 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 the years.

What are the other streets in Nesapakkam with the same guideline value?

Other streets in Nesapakkam with a guideline value of Rs 3,300 per sq.ft include Jawaharlal Nehru Street, Moovendar Cross Street, Ganesan Street, Moovendar Street, Nagappan Street, and Arunachalam Street.

Where is the Virugambakkam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in RAJIV GANDHI NAGAR - Mahendravarman Street?

The stamp duty for properties in RAJIV GANDHI NAGAR - Mahendravarman Street is calculated at 7% of the guideline value or the sale price, whichever is higher.