Guideline Value for RAJIV NAGAR 1 TO 3 STREET

Rajiv Nagar 1 To 3 Street guideline value

The current guideline value for Rajiv Nagar 1 To 3 Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village under the Pallavaram SRO, classified as Mixed Type - II.

How the guideline value of Rajiv Nagar 1 To 3 Street has changed

The guideline value for Rajiv Nagar 1 To 3 Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a reduction of 33%. In 2023, the value increased to Rs 3,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Rajiv Nagar 1 To 3 Street above this median.

• Rajiv Gandhi 1 To 7 Streets: Rs 3,300 per sq.ft (2024)
• Ramakrishnan Nagar: Rs 3,300 per sq.ft (2024)
• Rajeev Nagar: Rs 3,300 per sq.ft (2024)
• Rajeev Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Ramanujar Garden: Rs 2,310 per sq.ft (2024)
• Rane Nagar: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar 1 To 3 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, bringing the total cost to Rs 2,97,000. 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 Nagar 1 To 3 Street?

The Sub Registrar Office that covers Rajiv Nagar 1 To 3 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established values.

When a property is sold, the guideline value is used to assess the transaction value for taxation purposes. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Rajiv Nagar 1 To 3 Street?

The current guideline value of Rajiv Nagar 1 To 3 Street 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Rajiv Nagar 1 To 3 Street?

Rajiv Nagar 1 To 3 Street is classified as Mixed Type - II under the land classification system.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Rajiv Nagar 1 To 3 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 in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.