Guideline Value for RAJIV GANDHI NAGAR - Selva Vinayagar Koil Street

RAJIV GANDHI NAGAR - Selva Vinayagar Koil Street guideline value

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

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

The guideline value for RAJIV GANDHI NAGAR - Selva Vinayagar Koil Street has seen several changes over the years. In 2002, the value was Rs 109 per sq.ft. It increased to Rs 120 per sq.ft in 2003, marking a 10% rise. The value further increased significantly to Rs 300 per sq.ft in 2007, which was a 150% increase from the previous year. By 2012, the guideline value reached Rs 2,000 per sq.ft, reflecting a substantial increase of 567% from 2007. However, it then dropped by 33% to Rs 1,340 per sq.ft in 2017.

In the subsequent revisions, the value rose to Rs 2,000 per sq.ft in 2023, showing a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,918%.

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 - Selva Vinayagar Koil Street is below this median.

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

Stamp duty and registration fee for property in RAJIV GANDHI NAGAR - Selva Vinayagar Koil 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Therefore, the total amount for stamp duty and registration fees would be Rs 1,98,000. Please note that 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 more details.

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

The Sub Registrar Office that covers RAJIV GANDHI NAGAR - Selva Vinayagar 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of RAJIV GANDHI NAGAR - Selva Vinayagar 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, marking an overall increase of 1,918% over the years.

What is the land classification for this street?

RAJIV GANDHI NAGAR - Selva Vinayagar Koil Street is classified as Residential Class V Type - I.

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

The Sub Registrar Office for RAJIV GANDHI NAGAR - Selva Vinayagar Koil 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, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,98,000 in fees.