Guideline Value for RAJIV NAGAR 1st STREET

RAJIV NAGAR 1st STREET guideline value

The current guideline value of RAJIV NAGAR 1st STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of RAJIV NAGAR 1st STREET has changed

The guideline value for RAJIV NAGAR 1st STREET has seen several revisions over the years. In 2003, the guideline value was Rs 191 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007, marking a change of +424%. The value then rose to Rs 2,500 per sq.ft in 2012, reflecting an increase of +150%. However, there was a decrease to Rs 1,675 per sq.ft in 2017, showing a drop of -33%. The value further increased to Rs 2,500 per sq.ft in 2023, and finally, as of 2024, it is Rs 2,800 per sq.ft, which is a rise of +12% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +1366%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 value of RAJIV NAGAR 1st STREET below this median.

• Rajiv Nagar: Rs 2,800 per sq.ft (2024)
• Rajiv Garden: Rs 3,300 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 NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers RAJIV NAGAR 1st STREET?

The Sub Registrar Office that covers RAJIV NAGAR 1st STREET 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 an essential factor when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The authorities use this value to ensure that the property is registered at a fair price, reflecting the current market conditions.

When a buyer approaches the registration office, the guideline value will be referenced to calculate the applicable fees. It is crucial for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of RAJIV NAGAR 1st STREET?

The current guideline value of RAJIV NAGAR 1st STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 191 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1366%.

What is the land classification of RAJIV NAGAR 1st STREET?

RAJIV NAGAR 1st STREET is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,52,000, calculated based on the guideline value of Rs 28,00,000.

Which office handles property registrations for this area?

The Neelankarai Sub Registrar Office handles property registrations for RAJIV NAGAR 1st STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.