Guideline Value for RAJIV GANDHI NAGAR

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar, located in Koladi village under the Chennai South Joint II SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Rajiv Gandhi Nagar has changed

The guideline value for Rajiv Gandhi Nagar has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose to Rs 800 per sq.ft in 2023, and further increased by 10% to the current Rs 880 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%. The changes between the revisions highlight a 220% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017, and a substantial 49% increase from 2017 to 2023.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, and Rajiv Gandhi Nagar's current value is below this median.

• Raju Nagar: Rs 660 per sq.ft (2024)
• Rajarathinam Nagar Road And 1 To 6 Cross Street: Rs 1,100 per sq.ft (2024)
• Ramadasar Road 1st Cross Street: Rs 660 per sq.ft (2024)
• Ramadasar Road 2nd Cross Street: Rs 660 per sq.ft (2024)
• Rajarathinam Nagar: Rs 1,100 per sq.ft (2024)
• Raja Nagar: Rs 660 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Gandhi Nagar?

The Sub Registrar Office that covers Rajiv Gandhi Nagar is the Chennai South Joint II 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 more information.

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

The guideline value is a crucial metric used during property registration in Koladi. It serves as a basis for calculating stamp duty and registration fees, which are mandatory for all property transactions.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What are the stamp duty and registration fees for property in Rajiv Gandhi Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Rajiv Gandhi Nagar?

The Chennai South Joint II Sub Registrar Office covers Rajiv Gandhi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Rajiv Gandhi Nagar?

Rajiv Gandhi Nagar falls under the Residential Class II Type - II land classification, indicating its suitability for residential purposes.