Guideline Value for RAJIV GANDHI STREET

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. In the following 2023 revision, the value increased to Rs 2,000 per sq.ft, and the most recent 2024 revision has further raised it to Rs 2,160 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Rajiv Gandhi Street's 2024 figure below that median.

• Rajiv Gandhi Nagar: Rs 2,160 per sq.ft (2024)
• Rajaram Street: Rs 3,300 per sq.ft (2024)
• Rajarajan Street: Rs 3,300 per sq.ft (2024)
• Rajapazham Colony Street: Rs 3,300 per sq.ft (2024)
• Ramaswamy Cross Street: Rs 2,160 per sq.ft (2024)
• Ramaswamy Street: Rs 3,520 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 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. It is essential 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 Zaminpallavaram

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that all applicable fees are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class III Type - I according to the local guidelines.

Where can I find the registration office for Rajiv Gandhi Street?

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

How is the stamp duty calculated for properties on Rajiv Gandhi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 at a rate of 7%.