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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. In 2012, the guideline value was Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and then further rose to Rs 1,760 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 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 1,320 per sq.ft (2024)
• Ramasamy Padayachiar Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)
• Rajaji Street (Ward -8): Rs 1,320 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 guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

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. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Panangottur. It helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the land records.

When a buyer or seller approaches the registration office, the guideline value will be referenced to calculate the applicable fees. This ensures that all property transactions adhere to the legal requirements set by the Registration Department.

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?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

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

The land classification for Rajivgandhi Street (Ward -4) is Residential Special Type - III.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value, which includes a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajivgandhi Street (Ward -4)?

The Sub Registrar Office for Rajivgandhi Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.