Guideline Value for RAJIV GANDHI NAGAR - Sakthi Vinayagar Street

RAJIV GANDHI NAGAR - Sakthi Vinayagar Street guideline value

The current guideline value of RAJIV GANDHI NAGAR - Sakthi Vinayagar 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 - Sakthi Vinayagar Street has changed

The guideline value for RAJIV GANDHI NAGAR - Sakthi Vinayagar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 150 per sq.ft. This increased to Rs 165 per sq.ft in 2003, marking a 10% rise. The value then jumped significantly to Rs 500 per sq.ft in 2007, reflecting a 203% increase. In 2012, the value was recorded at Rs 3,000 per sq.ft, which was a substantial increase of 500% from the previous revision. However, in 2017, it decreased to Rs 2,010 per sq.ft, showing a decline of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 3,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 figure. There are no figures available for the years that do not have a revision for this street.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of RAJIV GANDHI NAGAR - Sakthi Vinayagar Street.

• RAJIV GANDHI NAGAR - Seikzhkar Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - South Ganesan Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Nagappan Street: Rs 3,300 per sq.ft (2024)
• 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 Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in RAJIV GANDHI NAGAR - Sakthi Vinayagar 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. Together, these fees would total Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers RAJIV GANDHI NAGAR - Sakthi Vinayagar Street?

The RAJIV GANDHI NAGAR - Sakthi Vinayagar Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is bought or sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

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

The current guideline value of RAJIV GANDHI NAGAR - Sakthi Vinayagar 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 2100% over the years.

What is the median guideline value for streets in Nesapakkam?

The median guideline value for streets in Nesapakkam is Rs 3,300 per sq.ft, which is the same as the guideline value for RAJIV GANDHI NAGAR - Sakthi Vinayagar Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

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

The Sub Registrar Office covering RAJIV GANDHI NAGAR - Sakthi Vinayagar Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO using the provided link.