Guideline Value for RAJIV GANDHI NAGAR - Perumal Koil Street

RAJIV GANDHI NAGAR - Perumal Koil Street guideline value

The current guideline value of RAJIV GANDHI NAGAR - Perumal Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

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

Over the years, the guideline value of RAJIV GANDHI NAGAR - Perumal Koil Street has experienced significant changes. In the 2002 revision, the guideline value was Rs 109 per sq.ft, which increased to Rs 120 per sq.ft in 2003. Following this, there was a substantial rise to Rs 300 per sq.ft in 2007. The value then saw a dramatic increase to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft.

The changes between these revisions are noteworthy. From 2002 to 2003, the increase was +10%. The jump from 2003 to 2007 was +150%, followed by a remarkable rise of +567% from 2007 to 2012. However, from 2012 to 2017, there was a decrease of -33%. The value then rose by +49% from 2017 to 2023, and the most recent change from 2023 to 2024 is +10%. 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. RAJIV GANDHI NAGAR - Perumal Koil Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers RAJIV GANDHI NAGAR - Perumal Koil Street?

The Sub Registrar Office that covers RAJIV GANDHI NAGAR - Perumal Koil 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 Maduravoyal

The guideline value is a crucial factor in the registration process for property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of RAJIV GANDHI NAGAR - Perumal Koil 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%.

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

Other streets in Maduravoyal that share the same guideline value of Rs 2,200 per sq.ft in 2024 include Perumal Koil Cross Street, Periyasamy Street, Periyar Street, Pari Street, NSK 1st Street, and Muthumariamman Koil Street.

What is the registration fee for property in RAJIV GANDHI NAGAR - Perumal Koil Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Which office handles property registrations for this area?

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