Guideline Value for RAJIV GANDHI NAGAR - Thalamuthu Natarajan Street

RAJIV GANDHI NAGAR - Thalamuthu Natarajan Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Thalamuthu Natarajan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

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

The guideline value for this street has seen several revisions over the years. Starting from Rs 109 per sq.ft in 2002, it rose to Rs 120 per sq.ft in 2003, marking a 10% increase. The value then increased significantly to Rs 300 per sq.ft in 2007, reflecting a 150% change. By 2012, the value was Rs 2,000 per sq.ft, showing a substantial 567% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33% from 2012.

In the subsequent revisions, the guideline value rose to Rs 2,000 per sq.ft in 2023, a 49% increase from the 2017 figure. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. There are no figures available for this street in any other years.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have 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 - Thalamuthu Natarajan Street is below this median.

• RAJIV GANDHI NAGAR - Selva Vinayagar Koil 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 - Thalamuthu Natarajan 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, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that 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 details.

Which Sub Registrar Office covers RAJIV GANDHI NAGAR - Thalamuthu Natarajan Street?

The RAJIV GANDHI NAGAR - Thalamuthu Natarajan Street falls under the jurisdiction of 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 serves as a reference point for property transactions in Maduravoyal. When a property is sold, the buyer and seller must consider the guideline value for calculating the stamp duty and registration fees, which are mandatory for all property transactions.

During the registration process, the authorities will assess the property based on the guideline value to ensure that the appropriate taxes are collected. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value for RAJIV GANDHI NAGAR - Thalamuthu Natarajan 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 from Rs 109 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1918% over the years.

What is the land classification for this street?

RAJIV GANDHI NAGAR - Thalamuthu Natarajan Street is classified as Residential Class V Type - I.

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

The Virugambakkam Sub Registrar Office, which covers this area, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft results in a total guideline value of Rs 22,00,000.