Guideline Value for RAJIV GANDHI NAGAR

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar, located in Ekkaduthangal village, is Rs 4,620 per sq.ft. This value is effective from 1 July 2024 and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajiv Gandhi Nagar has changed

The guideline value for Rajiv Gandhi Nagar has seen significant changes over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 806 per sq.ft in 2003, marking a change of +15%. By 2007, the value rose dramatically to Rs 1,000 per sq.ft, a change of +24%. The value continued to rise, reaching Rs 4,200 per sq.ft in 2012, an increase of +320% from 2007. However, it saw a decrease of -33% to Rs 2,814 per sq.ft in 2017. The value then climbed to Rs 4,200 per sq.ft in 2023, and finally to Rs 4,620 per sq.ft in 2024, reflecting a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +561%. The register has no figures for the years not mentioned in this timeline.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, which is equal to the current guideline value of Rajiv Gandhi Nagar.

• Rajiv Gandhi Street: Rs 4,620 per sq.ft (2024)
• Raja St: Rs 3,080 per sq.ft (2024)
• Rajarajan Street: Rs 5,500 per sq.ft (2024)
• Rajaji Street: Rs 4,620 per sq.ft (2024)
• Raghavan Thotam: Rs 3,520 per sq.ft (2024)
• Reddy Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would amount to Rs 3,23,400, and the registration fee at 2% would be Rs 92,400. Together, the total cost for these fees would be Rs 4,15,800. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Rajiv Gandhi Nagar?

The Sub Registrar Office that covers Rajiv Gandhi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

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

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 4,620 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 699 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of +561% over this period.

What is the land classification for Rajiv Gandhi Nagar?

Rajiv Gandhi Nagar falls under the land classification of Residential Class II Type - I.

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

The Sub Registrar Office for Rajiv Gandhi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

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, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 46,20,000.