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Guideline Value

Corporate

Guideline Value for Rajeev Gandhi Nagar 2nd Main Road

₹2500/sq.ft.

The guideline value for Rajeev Gandhi Nagar 2nd 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 2nd Main Road

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Rajeev Gandhi Nagar 2nd Main Road guideline value

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

How the guideline value of Rajeev Gandhi Nagar 2nd Main Road has changed

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

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Rajeev Gandhi Nagar 2nd Main Road.

Stamp duty and registration fee for property in Rajeev Gandhi Nagar 2nd 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 would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajeev Gandhi Nagar 2nd Main Road?

The Rajeev Gandhi Nagar 2nd Main Road falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Erukancherry. It serves as a benchmark for the minimum value at which property transactions are registered, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are fairly taxed according to the established rates in the guideline value register.

Frequently asked questions

What is the current guideline value of Rajeev Gandhi Nagar 2nd Main Road?

The current guideline value of Rajeev Gandhi Nagar 2nd 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 changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles registrations for Rajeev Gandhi Nagar 2nd Main Road?

The Madhavaram Sub Registrar Office handles registrations for Rajeev Gandhi Nagar 2nd Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Rajeev Gandhi Nagar 2nd Main Road?

The land classification for Rajeev Gandhi Nagar 2nd Main Road is Residential Class III Type - I.