Guideline Value for RAJIV GANDHI NAGAR - Moovendar Street

RAJIV GANDHI NAGAR - Moovendar Street guideline value

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

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

The guideline value for RAJIV GANDHI NAGAR - Moovendar Street has seen several revisions over the years. Starting with Rs 150 per sq.ft in 2002, it increased to Rs 165 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, followed by a drop to Rs 3,000 per sq.ft in 2012. The value further decreased to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions include a 203% increase from 2002 to 2007, a 500% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has risen 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 - Moovendar Street.

• RAJIV GANDHI NAGAR - Moovendar Cross 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 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, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

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

The RAJIV GANDHI NAGAR - Moovendar 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 information.

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

The guideline value is a critical factor during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value for RAJIV GANDHI NAGAR - Moovendar 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 stamp duty and registration fees for property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for RAJIV GANDHI NAGAR - Moovendar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for RAJIV GANDHI NAGAR - Moovendar Street?

RAJIV GANDHI NAGAR - Moovendar Street is classified as Residential Class II Type - I, indicating its designation for residential use.