Guideline Value for RAJIV NAGAR

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar, located in Mukthapudupattu village under the Avadi SRO, is Rs 804 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Rajiv Nagar has changed

Since the 2012 revision, the guideline value for Rajiv Nagar has experienced notable changes. In 2012, the value was Rs 400 per sq.ft, which increased to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, the value rose significantly to Rs 600 per sq.ft, marking a 124% increase. The most recent revision in 2024 has set the guideline value at Rs 804 per sq.ft, reflecting a 34% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Mukthapudupattu

In Mukthapudupattu, there are 37 streets under the Avadi SRO that have a guideline value for 2024, ranging from Rs 800 to Rs 804 per sq.ft. The median value for these streets is Rs 802 per sq.ft, placing Rajiv Nagar's 2024 figure above the median.

• Sabi Nagar & Streets: Rs 804 per sq.ft (2024)
• Police Station Road: Rs 802 per sq.ft (2024)
• Police Station & 2nd St: Rs 804 per sq.ft (2024)
• Pillaiyar Koil St: Rs 800 per sq.ft (2024)
• Periyar Nagar & Streets: Rs 804 per sq.ft (2024)
• Pallikooda St: Rs 802 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 804 per sq.ft, the total guideline value amounts to Rs 8,04,000. The stamp duty at 7% would be Rs 56,280, and the registration fee at 2% would be Rs 16,080, bringing the total to Rs 72,360. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajiv Nagar?

The Sub Registrar Office that covers Rajiv Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Mukthapudupattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented accurately and transparently.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Rajiv Nagar?

The current guideline value of Rajiv Nagar is Rs 804 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 804 per sq.ft in 2024, with significant increases in 2017 and 2023.

What is the land classification for Rajiv Nagar?

Rajiv Nagar falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Rajiv Nagar?

The Sub Registrar Office for Rajiv Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Rajiv Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 8,04,000, the stamp duty would be Rs 56,280 at a rate of 7%.