Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Gowrivakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Rajiv Gandhi Street below this median.

• Punithavathi Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 2nd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Gandhi Street?

The Sub Registrar Office that covers Rajiv Gandhi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value ensures that the transaction reflects the official valuation set by the authorities. This helps maintain transparency and compliance with local regulations in property dealings.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the guideline values of other streets in Gowrivakkam?

Other streets in Gowrivakkam have guideline values ranging from Rs 840 to Rs 3,750 per sq.ft, with the median being Rs 2,200 per sq.ft.

What fees are associated with property transactions?

When registering property, stamp duty at 7% and a registration fee at 2% are applicable based on the guideline value or sale price, whichever is higher.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.