Guideline Value for RAJIVGANDHI STREET (WARD -4)

Rajivgandhi Street (Ward -4) guideline value

The current guideline value of Rajivgandhi Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

How the guideline value of Rajivgandhi Street (Ward -4) has changed

Over the years, the guideline value of Rajivgandhi Street (Ward -4) has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which was maintained until the 2017 revision, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. In the following years, the value increased significantly, reaching Rs 1,600 per sq.ft in the 2023 revision and then rising to Rs 1,760 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Rajivgandhi Street's 2024 figure above this median.

• Rajiv Gandhi Nagar Rail Nagar (Ward -2): Rs 660 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 660 per sq.ft (2024)
• Ramanujar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Ramasamy Padayachiar Salai (Ward -8): Rs 1,321 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)
• Rajaji Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajivgandhi Street (Ward -4)?

The Sub Registrar Office that covers Rajivgandhi Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered, providing a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajivgandhi Street (Ward -4)?

The current guideline value of Rajivgandhi Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has fluctuated, with a decrease to Rs 1,072 per sq.ft in 2017, followed by increases to Rs 1,600 in 2023 and Rs 1,760 in 2024.

What is the land classification for Rajivgandhi Street (Ward -4)?

Rajivgandhi Street (Ward -4) is classified as Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.