Guideline Value for RAJIV STREET

Rajiv Street guideline value

The current guideline value of Rajiv Street, located in Pallikaranai village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Rajiv Street has changed

The guideline value for Rajiv Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. However, this value decreased significantly to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. The most recent revision in 2024 saw a substantial increase to Rs 1,320 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is worth noting that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making Rajiv Street's 2024 figure below that median.

• Rajivu Gandhi Street Extn,1st Cross Street: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,110 per sq.ft (2024)
• Rajiv Gandhi Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Rajiv Gandhi 2nd Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. 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 accurate calculations.

Which Sub Registrar Office covers Rajiv Street?

Rajiv Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajiv Street?

The current guideline value of Rajiv Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,320 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What are the other guideline values in Pallikaranai?

In Pallikaranai, the guideline values range from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. Rajiv Street's guideline value is below this median.

What are the stamp duty and registration fees for properties in Rajiv Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total charges would be Rs 1,18,800.

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

The Sub Registrar Office covering Rajiv Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information through the provided link.