Guideline Value for RAJIV GANDHI NAGAR - Seikzhkar Street

RAJIV GANDHI NAGAR - Seikzhkar Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Seikzhkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

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

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

In 2023, the guideline value was set at Rs 3,000 per sq.ft, and it increased to Rs 3,300 per sq.ft in 2024, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 2,100% for this street.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry 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 the same as the guideline value for RAJIV GANDHI NAGAR - Seikzhkar Street.

• RAJIV GANDHI NAGAR - Sakthi Vinayagar 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 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)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

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

The RAJIV GANDHI NAGAR - Seikzhkar Street is covered by 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 a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately and legally.

When a buyer or seller registers a property, the guideline value helps determine the financial obligations involved in the transaction. It is essential to be aware of the current guideline value to understand the costs associated with property transactions in the area.

Frequently asked questions

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

The current guideline value for RAJIV GANDHI NAGAR - Seikzhkar 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 increased from Rs 150 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 2,100% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for this street?

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

What is the land classification for RAJIV GANDHI NAGAR - Seikzhkar Street?

The land classification for RAJIV GANDHI NAGAR - Seikzhkar Street is Residential Class II Type - I.