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Guideline Value

Corporate

Guideline Value for Rajeev Gandhi Nagar 1st Main Road

₹2500/sq.ft.

The guideline value for Rajeev Gandhi Nagar 1st Main Road in Erukancherry village (Madhavaram SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Erukancherry

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2300 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rajeev Gandhi Nagar 1st Main Road

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Rajeev Gandhi Nagar 1st Main Road guideline value

The current guideline value of Rajeev Gandhi Nagar 1st Main Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Rajeev Gandhi Nagar 1st Main Road has changed

The guideline value for Rajeev Gandhi Nagar 1st Main Road has experienced several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the latest 2024 revision further raised it to Rs 2,500 per sq.ft.

Between the 2023 and 2024 revisions, there was a 9% increase in the guideline value. From 2017 to 2023, the value rose by 49%. However, from 2012 to 2017, there was a significant decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which is equal to the guideline value of Rajeev Gandhi Nagar 1st Main Road.

Stamp duty and registration fee for property in Rajeev Gandhi Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that 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 details.

Which Sub Registrar Office covers Rajeev Gandhi Nagar 1st Main Road?

The Sub Registrar Office that covers Rajeev Gandhi Nagar 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Erukancherry. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is important to ensure that the property is registered at the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps in establishing a clear record of property ownership.

Frequently asked questions

What is the current guideline value of Rajeev Gandhi Nagar 1st Main Road?

The current guideline value of Rajeev Gandhi Nagar 1st Main Road is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being an increase from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024.

What is the land classification for Rajeev Gandhi Nagar 1st Main Road?

Rajeev Gandhi Nagar 1st Main Road is classified as Residential Class III Type - I.

What are the stamp duty rates applicable?

The stamp duty for properties in Rajeev Gandhi Nagar 1st Main Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office covers Rajeev Gandhi Nagar 1st Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.