Guideline Value for RAJIV GANDHI STREET

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Thiruvancheri village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 brought it up to Rs 1,980 per sq.ft, marking a significant increase of 32% from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Rajiv Gandhi Street.

• Rajiv Gandhi Cross Street: Rs 1,980 per sq.ft (2024)
• Ramar Koil Street: Rs 1,980 per sq.ft (2024)
• Sai Nagar Salai: Rs 2,530 per sq.ft (2024)
• Sai Ram Nagar: Rs 2,200 per sq.ft (2024)
• Sakthi Iyyanar Nagar: Rs 1,980 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 Street?

The Sub Registrar Office that covers Rajiv Gandhi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruvancheri. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. This value ensures that the government receives appropriate revenue from property transactions.

When selling a property, the guideline value helps establish a baseline for pricing. Sellers often consider the guideline value to set competitive prices while ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What are the other streets with the same guideline value in Thiruvancheri?

Other streets in Thiruvancheri with the same guideline value of Rs 1,980 per sq.ft include Rajiv Gandhi Cross Street, Ramar Koil Street, Sakthi Iyyanar Nagar, and Pillayar Koil Street.

What is the registration fee for property in Rajiv Gandhi Street?

The registration fee for property in Rajiv Gandhi Street is calculated based on the guideline value, which is Rs 1,980 per sq.ft. The fee is 2% of the total guideline value.

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

The Sub Registrar Office for Rajiv Gandhi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.