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 Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - III.

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

The guideline value for Rajivgandhi Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 1,072 per sq.ft. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and then rose again to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision saw a 49% increase from the 2017 figure, while the 2012 to 2017 period experienced a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Rajivgandhi Street's 2024 value above the 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 total guideline value amounts to Rs 17,60,000. The stamp duty, calculated at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. The duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the registration department and is regularly updated to reflect changes in the market.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, which is essential for various public services and infrastructure development.

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)?

Rajivgandhi Street (Ward -4) is classified as Residential Special Type - III.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 1,58,400.

Where is the Sub Registrar Office for Rajivgandhi Street (Ward -4)?

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