Guideline Value for RAJIVU GANDHI STREET EXTN,1ST CROSS STREET

Rajivu Gandhi Street Extn,1st Cross Street guideline value

The current guideline value of Rajivu Gandhi Street Extn,1st Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Rajivu Gandhi Street Extn,1st Cross Street has changed

The guideline value for Rajivu Gandhi Street Extn,1st Cross Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, the most recent 2024 revision shows an increase to Rs 1,320 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Rajivu Gandhi Street Extn,1st Cross Street is below this median.

• Rajiv Street: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,110 per sq.ft (2024)
• Rajiv Gandhi Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Rajiv Gandhi 2nd Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivu Gandhi Street Extn,1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would amount to Rs 13,20,000. The stamp duty, calculated at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rajivu Gandhi Street Extn,1st Cross Street?

The Sub Registrar Office that covers Rajivu Gandhi Street Extn,1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is officially recognized and documented.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that all transactions are transparent and comply with local regulations.

Frequently asked questions

What is the current guideline value of Rajivu Gandhi Street Extn,1st Cross Street?

The current guideline value of Rajivu Gandhi Street Extn,1st Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,320 per sq.ft in 2024, reflecting a 64% rise from the 2017 figure.

What is the land classification for this street?

The land classification for Rajivu Gandhi Street Extn,1st Cross Street is Residential Class IV Type - II.

Where can I find the registration office for this street?

The registration office for Rajivu Gandhi Street Extn,1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would be Rs 1,18,800.