Guideline Value for RAJIV GANDHI STREET

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

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 most recent revision in 2024 set the value at Rs 1,950 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking an 8% rise. Prior to that, the value was Rs 1,005 per sq.ft in 2017, showing a significant increase of 79% over the six-year period. The value was Rs 1,500 per sq.ft in 2012, which represents a decrease of 33% when compared to the 2017 figure.

There are no guideline value figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 30%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value of Rajiv Gandhi Street is below this median.

• Royal Garden: Rs 2,250 per sq.ft (2024)
• Priyadharshini Nagar: Rs 2,900 per sq.ft (2024)
• Pranav Boomi: Rs 2,700 per sq.ft (2024)
• Sankarapuram: Rs 3,300 per sq.ft (2024)
• Sankarapuram Extension: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 1,950 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 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for these fees to Rs 1,75,500. It is important to note that 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 Street?

The Sub Registrar Office that covers Rajiv Gandhi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitthalapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a legally recognized price.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 30% over this period.

What are the stamp duty and registration fees for properties on Rajiv Gandhi Street?

For a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500 and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Which registration office covers Rajiv Gandhi Street?

The Selaiyur Sub Registrar Office covers Rajiv Gandhi Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.