Guideline Value for Rajeev Nagar

Rajeev Nagar guideline value

The current guideline value of Rajeev Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in S. Kullathur village and falls under the Pallavaram SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Rajeev Nagar has changed

The guideline value for Rajeev Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 870 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft. The changes from revision to revision include a 245% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 279%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,400 per sq.ft, with a median value of Rs 2,750 per sq.ft. Rajeev Nagar's 2024 guideline value is above this median.

• Raja Rajeshwari Nagar: Rs 2,750 per sq.ft (2024)
• Rajeswari Nagar 1 To 5 Main Road: Rs 2,750 per sq.ft (2024)
• Rajeswari Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• Raja Nagar 1 To 4 Streets: Rs 3,300 per sq.ft (2024)
• RAJA Nagar: Rs 3,300 per sq.ft (2024)
• Rajam Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeev Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajeev Nagar?

The Sub Registrar Office that covers Rajeev Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor in property transactions, as it determines the amount of stamp duty and registration fees payable when buying or selling property. When a property is registered, the guideline value is used to calculate these fees, ensuring that they are based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process in S. Kullathur.

Frequently asked questions

What is the current guideline value of Rajeev Nagar?

The current guideline value of Rajeev Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 870 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 279% over the years.

What is the land classification for Rajeev Nagar?

Rajeev Nagar is classified as Mixed Type - I, which indicates the type of land usage permitted in the area.

Which Sub Registrar Office is responsible for Rajeev Nagar?

The Pallavaram Sub Registrar Office is responsible for Rajeev Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Rajeev Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value of Rs 3,300 per sq.ft would incur a total stamp duty of Rs 2,31,000.