Guideline Value for RAJIV GANDHI STREET

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II 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. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 to 2024 revision shows a 10% increase, while the 2017 to 2023 revision demonstrates a substantial rise of 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Rajiv Gandhi Street.

• Rajiv Gandhi Cross Street: Rs 2,200 per sq.ft (2024)
• Ramadas Street: Rs 1,650 per sq.ft (2024)
• Rajeswari Street: Rs 2,200 per sq.ft (2024)
• Rajathi Street: Rs 2,200 per sq.ft (2024)
• Rajammal Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Street Amaravathi Nagar: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Gandhi Street?

Rajiv Gandhi Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which transactions must be registered, ensuring that the property is accurately valued for taxation purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the agreed sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 2,200 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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

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

The Sub Registrar Office covering Rajiv Gandhi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.