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. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 600 per sq.ft, and the most recent 2024 revision has raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, placing Rajivgandhi Street's 2024 figure below that 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, making the total cost for stamp duty and registration fees Rs 59,400. 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)?

The Sub Registrar Office that covers Rajivgandhi Street (Ward-21) 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 Potheri

The guideline value is a critical component in the registration process for property transactions in Potheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

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 changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Rajivgandhi Street?

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

What are the guideline values of other streets in Potheri?

In Potheri, other streets have varying guideline values, with rates ranging from Rs 440 to Rs 2,970 per sq.ft, while the median is Rs 770 per sq.ft.

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. This office handles the registration of properties in the area.