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Guideline Value

Corporate

Guideline Value for Rajeev Gandhi Nagar 5th Main Road

₹2500/sq.ft.

The guideline value for Rajeev Gandhi Nagar 5th 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 5th Main Road

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Rajeev Gandhi Nagar 5th Main Road guideline value

The current guideline value of Rajeev Gandhi Nagar 5th 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, classified as Residential Class III Type - I.

How the guideline value of Rajeev Gandhi Nagar 5th Main Road has changed

The guideline value for Rajeev Gandhi Nagar 5th Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the most recent 2024 revision brought it to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. 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 carry 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 value for Rajeev Gandhi Nagar 5th Main Road.

Stamp duty and registration fee for property in Rajeev Gandhi Nagar 5th 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, leading to a total of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajeev Gandhi Nagar 5th Main Road?

The Sub Registrar Office that covers Rajeev Gandhi Nagar 5th Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rajeev Gandhi Nagar 5th Main Road?

The current guideline value of Rajeev Gandhi Nagar 5th 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 2023 to Rs 2,500 per sq.ft in 2024, marking a 9% increase. The value was Rs 1,541 per sq.ft in 2017, which shows a 49% increase to the 2023 figure.

What is the land classification for Rajeev Gandhi Nagar 5th Main Road?

Rajeev Gandhi Nagar 5th Main Road is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

How is stamp duty calculated for properties in Rajeev Gandhi Nagar 5th Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at the rate of 7%.