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 Vallancheri 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 seen several revisions over the years. The 2024 revision sets the value at Rs 660 per sq.ft, an increase from the 2023 revision of Rs 600 per sq.ft, which reflects a change of +10%. Prior to that, the 2017 revision was Rs 402 per sq.ft, marking a significant increase of +49% from that year to 2023. The 2012 revision was Rs 600 per sq.ft, indicating a decrease of -33% to the 2017 figure. 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 revisions in the years 2002, 2003, and 2007. The 2012 and 2017 revisions show fluctuations, with the 2017 value being lower than the 2012 value, while the subsequent revisions have shown an upward trend.

Guideline values in Vallancheri

In Vallancheri, there are 134 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 guideline value for these streets is Rs 825 per sq.ft, placing Rajivgandhi Street's 2024 figure below that median.

• Rajeswari Nagar Main Road (Ward -1): Rs 880 per sq.ft (2024)
• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 880 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)
• Rubi Avenue: Rs 1,100 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together 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 further calculations, 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vallancheri, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the transfer of ownership.

It is essential for buyers and sellers to be aware of the guideline value in their area, as it can impact the overall costs involved in the transaction. Proper understanding of these values ensures compliance with local regulations during property registration.

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 2023 to Rs 660 per sq.ft in 2024, a change of +10%. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a significant increase and fluctuations over the years.

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

The land classification for Rajivgandhi Street (Ward-21) is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rajivgandhi Street (Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Rajivgandhi Street (Ward-21) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.