Guideline Value for RAJIV GANDHI NAGAR

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This locality is situated in Matthur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Rajiv Gandhi Nagar has changed

The guideline value for Rajiv Gandhi Nagar has seen several revisions over the years. Starting from Rs 69 per sq.ft in 2002, it increased to Rs 82 per sq.ft in 2003, marking a 19% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, a 144% increase. In 2012, the value was recorded at Rs 1,000 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, it decreased by 33% to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1494%. There are no figures available for any revisions other than those listed for this street.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Rajiv Gandhi Nagar is equal to this median.

• Ponnuswamy Nagar: Rs 1,100 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,100 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,100 per sq.ft (2024)
• Sakthi Nagar / Sakthi Murugan Nagar: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Pangu Medu: Rs 1,100 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 rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware that the duty is assessed based on the higher of the guideline value or the sale price.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, thus protecting both parties involved in the sale. It is essential to check the current guideline value to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, starting from Rs 69 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, marking a total increase of 1494% over the years.

What is the land classification for Rajiv Gandhi Nagar?

Rajiv Gandhi Nagar is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Rajiv Gandhi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Rajiv Gandhi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000, leading to a stamp duty of Rs 77,000.