Guideline Value for RAJIV GANDHI NAGAR - Periyasamy Street

RAJIV GANDHI NAGAR - Periyasamy Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Periyasamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

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

The guideline value for RAJIV GANDHI NAGAR - Periyasamy Street has seen significant changes over the years. In 2002, the value was Rs 109 per sq.ft, which increased to Rs 120 per sq.ft in 2003. Following that, the value rose to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2002 to 2003, the increase was +10%. The value surged by +150% from 2003 to 2007, followed by a substantial +567% increase from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of +49%, and finally, the current revision from 2023 to 2024 reflects a +10% rise. Overall, from 2002 to 2024, the guideline value has increased by +1918%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for RAJIV GANDHI NAGAR - Periyasamy Street is below this median.

• RAJIV GANDHI NAGAR - Periyar Street: Rs 2,200 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Perumal Koil Cross Street: Rs 2,200 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Pari Street: Rs 2,200 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• RAJIV GANDHI NAGAR - NSK 1st Street: Rs 2,200 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Muthumariamman Koil Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

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

The RAJIV GANDHI NAGAR - Periyasamy 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 details.

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

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

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency in the transaction.

Frequently asked questions

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

The current guideline value of RAJIV GANDHI NAGAR - Periyasamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 109 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1918% over the years.

What is the land classification for this street?

RAJIV GANDHI NAGAR - Periyasamy Street is classified as Residential Class V Type - I.

What other streets have the same guideline value?

Other streets in Maduravoyal, such as RAJIV GANDHI NAGAR - Periyar Street, RAJIV GANDHI NAGAR - Perumal Koil Cross Street, and others, also have a guideline value of Rs 2,200 per sq.ft for 2024.

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.