Guideline Value for RAJIVGANDHI SALAI

Rajivgandhi Salai guideline value

The current guideline value of Rajivgandhi Salai in Okkiyamthuraipakkam village is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Rajivgandhi Salai has changed

Over the years, the guideline value of Rajivgandhi Salai has seen several revisions. The 2012 revision set the value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in 2017. Following this, the value increased to Rs 8,000 per sq.ft in 2023 and rose again to Rs 8,800 per sq.ft in 2024. The register has no figures for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Rajivgandhi Salai's 2024 figure above that median.

• Rajiv Garden: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar: Rs 2,800 per sq.ft (2024)
• RAJIV NAGAR 1st STREET: Rs 2,800 per sq.ft (2024)
• Raju 1 St Street: Rs 3,900 per sq.ft (2024)
• Raju 2 Nd Street: Rs 3,900 per sq.ft (2024)
• Raju 3 Rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 Rajivgandhi Salai?

The Sub Registrar Office that covers Rajivgandhi Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Rajivgandhi Salai?

The current guideline value of Rajivgandhi Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 in 2012 to Rs 5,360 in 2017, then increased to Rs 8,000 in 2023, and finally to Rs 8,800 in 2024. There are no figures for this street in the years 2002, 2003, and 2007.

What is the land classification of Rajivgandhi Salai?

Rajivgandhi Salai is classified as Commercial Class I Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Rajivgandhi Salai?

The Sub Registrar Office for Rajivgandhi Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Rajivgandhi Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.