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

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

The current guideline value of Rajiv Gandhi Nagar Rail Nagar (Ward -2) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor 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 the 2012 revision, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rose to Rs 600 per sq.ft again in the 2023 revision, marking a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 661 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the 2024 figure for Rajiv Gandhi Nagar Rail Nagar below this median.

• Rajivgandhi Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 661 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 661 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 rate of Rs 661 per sq.ft, the guideline value amounts to Rs 6,61,000. The stamp duty at 7% would be Rs 46,270, while the registration fee at 2% would be Rs 13,220. Together, these fees would total Rs 59,490. It is essential to note that the 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 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar Rail Nagar?

The current guideline value of Rajiv Gandhi Nagar Rail Nagar (Ward -2) is Rs 661 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 back to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

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

Rajiv Gandhi Nagar Rail Nagar is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. For Rajiv Gandhi Nagar Rail Nagar, the stamp duty is 7% of the guideline value.