Guideline Value for RAJIV GANDHI NAGAR

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Rajiv Gandhi Nagar has changed

Over the years, the guideline value of Rajiv Gandhi Nagar has seen several revisions. The earliest recorded figure is from 2002, where the value was Rs 163 per sq.ft. In 2003, it increased to Rs 192 per sq.ft, marking an 18% rise. The value continued to rise significantly, reaching Rs 600 per sq.ft in 2007, which was a 213% increase. However, from 2007 to 2012, the value dropped to Rs 2,600 per sq.ft, reflecting a decrease of 33%. The 2017 revision saw a substantial increase to Rs 1,742 per sq.ft, which was a 49% rise from the previous figure. The latest revision in 2023 set the guideline value at Rs 2,600 per sq.ft, before the current figure of Rs 2,800 per sq.ft was established in 2024, representing an 8% increase.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Rajiv Gandhi Nagar's 2024 figure below this median.

• Rajeswari Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Raja Shanmugam Nagar/ Extension/Cross Streets: Rs 1,500 per sq.ft (2024)
• Ramanathapuram: Rs 1,900 per sq.ft (2024)
• Ramanujam Street: Rs 3,700 per sq.ft (2024)
• Ramasamy Mudaliyar Nagar: Rs 1,300 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, these costs would total Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a fair price for the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 2,800 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 163 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1618% over the years.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations in Rajiv Gandhi Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Rajiv Gandhi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Rajiv Gandhi Nagar?

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