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Guideline Value

Corporate

Guideline Value for Rajeev Gandhi Nagar 6th Street

₹2500/sq.ft.

The guideline value for Rajeev Gandhi Nagar 6th Street 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 6th Street

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Rajeev Gandhi Nagar 6th Street guideline value

The current guideline value for Rajeev Gandhi Nagar 6th Street 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 6th Street has changed

Over the years, the guideline value for Rajeev Gandhi Nagar 6th Street has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, and the latest 2024 revision has further raised it to Rs 2,500 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in guideline value is +9%. The specific changes between the recent revisions include a +49% increase from 2017 to 2023, and a +9% increase from 2023 to 2024.

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 value for these streets is Rs 2,500 per sq.ft, which matches the current guideline value of Rajeev Gandhi Nagar 6th Street.

Stamp duty and registration fee for property in Rajeev Gandhi Nagar 6th Street

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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajeev Gandhi Nagar 6th Street?

The Rajeev Gandhi Nagar 6th Street falls under 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 plays a crucial role in the registration of property transactions in Erukancherry. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it directly affects the financial aspects of property transactions, including the total amount payable during registration.

Frequently asked questions

What is the current guideline value for Rajeev Gandhi Nagar 6th Street?

The current guideline value for Rajeev Gandhi Nagar 6th Street 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 also rose significantly from Rs 1,541 per sq.ft in 2017 to Rs 2,300 per sq.ft in 2023, a 49% increase.

What is the land classification for Rajeev Gandhi Nagar 6th Street?

Rajeev Gandhi Nagar 6th Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

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 registrations for properties in the area.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be calculated at 7% of that amount.