Guideline Value for RAJIV GANDHI NAGAR - Nagappan Street

RAJIV GANDHI NAGAR - Nagappan Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Nagappan 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 - Nagappan Street has changed

The guideline value for RAJIV GANDHI NAGAR - Nagappan Street has changed significantly over the years. In 2002, the guideline value was Rs 150 per sq.ft, which increased to Rs 165 per sq.ft in 2003, marking a 10% increase. The value saw a substantial rise to Rs 500 per sq.ft in 2007, representing a 203% increase. Following that, the value jumped to Rs 3,000 per sq.ft in 2012, which was a 500% increase from the previous revision. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting 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 for this street has increased by 2,100%. The register has no figure for the years not mentioned in the list provided.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO with 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, making the current value for RAJIV GANDHI NAGAR - Nagappan Street equal to this median.

• RAJIV GANDHI NAGAR - Moovendar Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Moovendar Cross 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 - Nagappan 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers RAJIV GANDHI NAGAR - Nagappan 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 an important factor when registering property in Nesapakkam. It serves as a basis for calculating the stamp duty and registration fees that buyers must pay during the transaction. This ensures that all parties involved are aware of the financial obligations associated with the property transfer.

When buying or selling property, the guideline value helps maintain transparency in the pricing of real estate transactions. It is essential for both buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value for RAJIV GANDHI NAGAR - Nagappan 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, increasing from Rs 150 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 2,100%.

What is the land classification for this street?

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

Where can I find the registration office for this street?

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

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, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,31,000.