Guideline Value for RAJIVGANDHI STREET (WARD-21)

Rajivgandhi Street (Ward-21) guideline value

The current guideline value of Rajivgandhi Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Rajivgandhi Street (Ward-21) has changed

The guideline value for Rajivgandhi Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 600 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 402 per sq.ft. However, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, followed by a further increase to Rs 660 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Specifically, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, the guideline value from 2012 to 2024 has seen a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, indicating that Rajivgandhi Street's 2024 figure of Rs 660 per sq.ft is below this median.

• Rajeswari Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Ramani Thottam (Ward-20): Rs 880 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)
• Ruthra Avenue (Tai): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total charges to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajivgandhi Street (Ward-21)?

Rajivgandhi Street (Ward-21) is covered by 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 Konathi

The guideline value plays a crucial role during the registration process when buying or selling property in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the established value of the property.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable duties and fees, thereby ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Rajivgandhi Street (Ward-21)?

The current guideline value of Rajivgandhi Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 600 per sq.ft in 2012, decreasing to Rs 402 per sq.ft in 2017, and then increasing to Rs 600 per sq.ft in 2023, before reaching Rs 660 per sq.ft in 2024.

What is the land classification of Rajivgandhi Street (Ward-21)?

Rajivgandhi Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II SRO?

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

How is the stamp duty calculated for properties in Rajivgandhi Street (Ward-21)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.