Guideline Value for RAJIVGANDHI STREET

Rajivgandhi Street guideline value

The current guideline value of Rajivgandhi Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Rajivgandhi Street has changed

The guideline value for Rajivgandhi Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a 767% increase. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, reflecting a 33% decline. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 1,300 per sq.ft, indicating no change between these two years.

It is important to note that the register has no figures for Rajivgandhi Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in this village is Rs 1,000 per sq.ft, placing Rajivgandhi Street's 2024 figure above this median.

• Rajeshwari Nagar: Rs 1,300 per sq.ft (2024)
• Rajan Avenue: Rs 1,300 per sq.ft (2024)
• Ramaswamy Street: Rs 800 per sq.ft (2024)
• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Ragavendra Street: Rs 1,300 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajivgandhi Street?

The Sub Registrar Office that covers Rajivgandhi Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vengathur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate applicable stamp duties and registration fees, which are mandatory for the transfer of ownership. This ensures that all transactions are documented and taxed appropriately, safeguarding the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Rajivgandhi Street?

The current guideline value of Rajivgandhi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and has remained at Rs 1,300 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Rajivgandhi Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Rajivgandhi Street?

For a 1,000 sq.ft property at Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registration for Rajivgandhi Street?

The Manavalanagar Sub Registrar Office handles property registration for Rajivgandhi Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.