Guideline Value for RAJIV GANDHI NAGAR - Moovendar Cross Street

RAJIV GANDHI NAGAR - Moovendar Cross Street guideline value

The current guideline value of RAJIV GANDHI NAGAR - Moovendar Cross 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 - Moovendar Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The most recent 2024 revision set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The guideline value register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nesapakkam

Nesapakkam has a total of 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 the area is Rs 3,300 per sq.ft, which aligns with the current value for RAJIV GANDHI NAGAR - Moovendar Cross Street.

• 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 - Mahendravarman Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Jawaharlal Nehru Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Ganesan Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Sakthi Vinayagar Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. 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 details.

Which Sub Registrar Office covers RAJIV GANDHI NAGAR - Moovendar Cross Street?

The RAJIV GANDHI NAGAR - Moovendar Cross Street is covered by 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 in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two figures is used to determine the applicable duties. This system helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of RAJIV GANDHI NAGAR - Moovendar Cross 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

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

Other streets in Nesapakkam with the same guideline value of Rs 3,300 per sq.ft include RAJIV GANDHI NAGAR - Moovendar Street, Nagappan Street, Mahendravarman Street, Jawaharlal Nehru Street, Ganesan Street, and Sakthi Vinayagar Street.

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

The Sub Registrar Office covering RAJIV GANDHI NAGAR - Moovendar Cross Street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property transactions?

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