Guideline Value for RAJIVGANDHI NAGAR

Rajivgandhi Nagar guideline value

The current guideline value of Rajivgandhi Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Kadappakkam village under the Thiruvottiyur SRO, and it is classified as Residential Class I Type - II.

How the guideline value of Rajivgandhi Nagar has changed

The guideline value for Rajivgandhi Nagar has seen several revisions over the years. Starting from Rs 47 per sq.ft in 2002, it increased to Rs 59 per sq.ft in 2003. The value then rose significantly to Rs 168 per sq.ft in 2007, followed by a further increase to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017. The value then climbed to Rs 1,000 per sq.ft in 2023, and it currently stands at Rs 1,002 per sq.ft as of the 2024 revision. The register has no figure for this street for the years not mentioned.

In terms of percentage changes, from 2002 to 2024, the overall increase is +2032%. The change from 2017 to 2023 was +149%, while the transition from 2012 to 2017 saw a decrease of -33%. The rise from 2007 to 2012 was +257%, and from 2003 to 2007, it increased by +185%. Lastly, the change from 2002 to 2003 was +26%.

Guideline values in Kadappakkam

In Kadappakkam, there are 17 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,001 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, which is equal to the current guideline value of Rajivgandhi Nagar.

• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street: Rs 1,002 per sq.ft (2024)
• Muthu Complex: Rs 1,002 per sq.ft (2024)
• Manali New Town (T N H B & C M D A): Rs 1,100 per sq.ft (2024)
• Madras Redhills Road: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, while the registration fee at 2% would be Rs 20,040, bringing the total fees together to Rs 90,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajivgandhi Nagar?

The Sub Registrar Office that covers Rajivgandhi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kadappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is registered according to the established rates.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar?

The current guideline value of Rajivgandhi Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 47 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of +2032% over the years.

What is the land classification for Rajivgandhi Nagar?

Rajivgandhi Nagar is classified as Residential Class I Type - II, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft property, the total fees would amount to Rs 90,180.

Where is the Sub Registrar Office for Rajivgandhi Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, and it handles registrations for Rajivgandhi Nagar.