Guideline Value for RAJIV GANDHI NAGAR - Perumal Koil Cross Street

RAJIV GANDHI NAGAR - Perumal Koil Cross Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Perumal Koil Cross 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 Cross Street has changed

The guideline value for RAJIV GANDHI NAGAR - Perumal Koil Cross 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, marking a 10% rise. The value then rose to Rs 300 per sq.ft in 2007, reflecting a substantial increase of 150%. Following this, the value jumped dramatically to Rs 2,000 per sq.ft in 2012, a remarkable increase of 567%. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not listed in the register for this street. 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 - Perumal Koil Cross Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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 fees 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.

You can use our stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office that covers RAJIV GANDHI NAGAR - Perumal Koil Cross 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It is the value set by the government for the purpose of calculating stamp duty and registration fees. Buyers and sellers must consider this value as it directly affects the total cost involved in the transaction.

When a property is sold, the registration office uses the guideline value to determine the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. It is essential for both parties to be aware of the guideline value to ensure compliance with regulatory requirements.

Frequently asked questions

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

The current guideline value for RAJIV GANDHI NAGAR - Perumal Koil Cross 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, marking an overall increase of 1918%.

What is the land classification for this area?

The land classification for RAJIV GANDHI NAGAR - Perumal Koil Cross Street is Residential Class V Type - I.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 fees would amount to Rs 1,98,000.