Guideline Value for RAJIV NAGAR

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar, located in Arasankalani village, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Rajiv Nagar has changed

The guideline value of Rajiv Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision has set it at Rs 1,900 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 6% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, placing Rajiv Nagar's 2024 figure below this median.

• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Renugambal Nagar: Rs 2,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,300 per sq.ft (2024)
• Santhanapuram: Rs 2,100 per sq.ft (2024)
• Perumbakkam Salai Street: Rs 2,100 per sq.ft (2024)
• Perumbakkam Koil Street: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Rajiv Nagar?

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

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

The guideline value is a crucial factor in the registration process of property transactions in Arasankalani. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the actual sale price, and the higher of the two is used to calculate the applicable duties. This ensures that transactions are recorded accurately and that the state government can assess the value of properties within the area.

Frequently asked questions

What is the current guideline value of Rajiv Nagar?

The current guideline value of Rajiv Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Rajiv Nagar?

Rajiv Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.