Guideline Value for RAJIV GANDHI NAGAR 2ND STREET

Rajiv Gandhi Nagar 2nd Street guideline value

The current guideline value of Rajiv Gandhi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Rajiv Gandhi Nagar 2nd Street has changed

The guideline value register has no figures for Rajiv Gandhi Nagar 2nd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 2,200 per sq.ft.

Prior to the 2024 revision, there were no recorded figures for this street in the guideline value register. The 2024 figure is the first recorded value for Rajiv Gandhi Nagar 2nd Street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Rajiv Gandhi Nagar 2nd Street.

• Rajiv Gandhi Nagar 1st Street Extension: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Nagar 2nd 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, making the total fees together Rs 1,98,000. 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 more details.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 2nd Street?

The Sub Registrar Office that covers Rajiv Gandhi Nagar 2nd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. 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 2nd Street?

The current guideline value of Rajiv Gandhi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

What is the land classification for Rajiv Gandhi Nagar 2nd Street?

Rajiv Gandhi Nagar 2nd Street falls under the Residential Class II Type - III land classification.

How many streets are there in Sholinganallur - 1?

There are 754 streets in Sholinganallur - 1 under the Neelankarai SRO that carry a 2024 guideline value.

What are the stamp duty rates for properties in this area?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher, when registering a property in Rajiv Gandhi Nagar 2nd Street.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.