Guideline Value for Rajeev gandhi Street

Rajeev gandhi Street guideline value

The current guideline value of Rajeev gandhi Street in Mamallapuram village is Rs 825 per sq.ft, effective from 1 July 2024. This street falls under the Thirukazhukundram SRO and is classified as Residential Class I Type - III.

How the guideline value of Rajeev gandhi Street has changed

The guideline value for Rajeev gandhi Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 750 per sq.ft. This figure was then revised downwards to Rs 502 per sq.ft in 2017, marking a decrease of 33%. However, the subsequent revisions saw significant increases, with the value rising to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

There are no figures available for Rajeev gandhi Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO with a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. The median value is Rs 935 per sq.ft, indicating that Rajeev gandhi Street's current guideline value is below this median.

• P.W.D Road: Rs 935 per sq.ft (2024)
• Poonchreri Mettu Colony 2nd Street: Rs 550 per sq.ft (2024)
• Poonchreri Mettu Colony 1st Street: Rs 550 per sq.ft (2024)
• Poonchreri Mettu Colony 1st & 2nd Joint Street: Rs 550 per sq.ft (2024)
• Poonchreri Mettu Colony: Rs 550 per sq.ft (2024)
• Pooncheri Village B.G.Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Rajeev gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty, calculated at 7%, would amount to Rs 57,750, while the registration fee at 2% would be Rs 16,500. Together, the total cost for these fees would be Rs 74,250. Please 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 Street?

The Sub Registrar Office that covers Rajeev gandhi Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mamallapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value as it influences the overall transaction costs. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajeev gandhi Street?

The current guideline value of Rajeev gandhi Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024.

What is the land classification for Rajeev gandhi Street?

Rajeev gandhi Street is classified as Residential Class I Type - III under the guideline value register.

What are the stamp duty rates for property in Rajeev gandhi Street?

The stamp duty for property transactions in Rajeev gandhi Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajeev gandhi Street?

The Sub Registrar Office for Rajeev gandhi Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.