Guideline Value for RAJIV GANDHI NAGAR

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Rajiv Gandhi Nagar has changed

The guideline value for Rajiv Gandhi Nagar has seen several revisions over the years. The earliest recorded value was Rs 45 per sq.ft in 2003, which increased to Rs 50 per sq.ft in 2007. Following this, the value surged to Rs 300 per sq.ft in 2012, before dropping to Rs 201 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 300 per sq.ft, with the current value being Rs 330 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 633%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with the median value being Rs 330 per sq.ft. The guideline value of Rajiv Gandhi Nagar aligns with this median.

• Rajaji Nagar: Rs 330 per sq.ft (2024)
• Ragavendra Nagar (All Phases): Rs 330 per sq.ft (2024)
• Ragavendra Nagar: Rs 330 per sq.ft (2024)
• Ranga Nagar: Rs 330 per sq.ft (2024)
• Ranjith Rajan Nagar: Rs 330 per sq.ft (2024)
• Prakash Avenue: Rs 330 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. 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 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 Nanthiambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable to the government.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and reflects the current market conditions.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 45 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, showing a significant increase over the years.

What is the median guideline value in Nanthiambakkam?

The median guideline value in Nanthiambakkam is Rs 330 per sq.ft, which is the same as the current guideline value for Rajiv Gandhi Nagar.

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

Stamp duty for properties in Rajiv Gandhi Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 23,100.

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.