Guideline Value for RAJIV GANDHI NAGAR RAIL NAGAR (WARD -2)

Rajiv Gandhi Nagar Rail Nagar (Ward -2) guideline value

The current guideline value for Rajiv Gandhi Nagar Rail Nagar (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Rajiv Gandhi Nagar Rail Nagar (Ward -2) has changed

The guideline value for Rajiv Gandhi Nagar Rail Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are a total of 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, indicating that the 2024 figure for Rajiv Gandhi Nagar Rail Nagar is below this median.

• Rajivgandhi Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 660 per sq.ft (2024)
• Ramanujar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ramasamy Padayachiar Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Rajaji Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Nagar Rail Nagar (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to 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 Rail Nagar (Ward -2)?

The Sub Registrar Office that covers Rajiv Gandhi Nagar Rail Nagar (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property dealings.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the appropriate market conditions. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar Rail Nagar (Ward -2)?

The current guideline value of Rajiv Gandhi Nagar Rail Nagar (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024. This reflects various increases and decreases over the years.

What is the land classification for Rajiv Gandhi Nagar Rail Nagar?

The land classification for Rajiv Gandhi Nagar Rail Nagar is Residential Class I Type - III. This classification indicates the type of development permissible in the area.

What are the stamp duty rates applicable in this area?

The stamp duty rate applicable in Rajiv Gandhi Nagar Rail Nagar is 7%, while the registration fee is 2%. These rates are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajiv Gandhi Nagar Rail Nagar?

The Sub Registrar Office for Rajiv Gandhi Nagar Rail Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information on how to locate your SRO.