Guideline Value for RAJIV GARDEN

Rajiv Garden guideline value

The current guideline value of Rajiv Garden is Rs 3,300 per sq.ft. This property is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Rajiv Garden has changed

The guideline value for Rajiv Garden has seen several revisions over the years. Starting from Rs 191 per sq.ft in 2003, it increased significantly to Rs 2,500 per sq.ft in 2007, marking a substantial rise of 1209%. In 2012, the value was Rs 3,000 per sq.ft, reflecting a decrease of 33%. The following revision in 2017 saw it rise to Rs 2,010 per sq.ft, and then it jumped to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1628%. It is important to note that the register does not have a figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current figure for Rajiv Garden.

• Rajiv Nagar: Rs 2,800 per sq.ft (2024)
• RAJIV NAGAR 1st STREET: Rs 2,800 per sq.ft (2024)
• Rajivgandhi Salai: Rs 8,800 per sq.ft (2024)
• Raju 1 St Street: Rs 3,900 per sq.ft (2024)
• Raju 2 Nd Street: Rs 3,900 per sq.ft (2024)
• Raju 3 Rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Garden?

The Sub Registrar Office that covers Rajiv Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that both buyers and sellers have a clear understanding of the property's worth based on government assessments.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a standardized valuation across the region.

Frequently asked questions

What is the current guideline value of Rajiv Garden?

The current guideline value of Rajiv Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 191 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1628% over this period.

Which Sub Registrar Office covers Rajiv Garden?

Rajiv Garden falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for a property in Rajiv Garden?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.