Guideline Value for Rajiv Gandhi 2nd Cross Street

Rajiv Gandhi 2nd Cross Street guideline value

The current guideline value for Rajiv Gandhi 2nd Cross Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Rajiv Gandhi 2nd Cross Street has changed

The guideline value for Rajiv Gandhi 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, reflecting a rise of 71%. The latest revision in 2024 has set the guideline value at Rs 850 per sq.ft, a 6% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 21%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Rajiv Gandhi 2nd Cross Street is below the median.

• RajivGandhi 1st Street: Rs 850 per sq.ft (2024)
• RajivGandhi 2nd Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi 3rd Cross Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi 1st Cross Street: Rs 850 per sq.ft (2024)
• RajivGandhi 3rd Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, totaling Rs 76,500. 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 2nd Cross Street?

The Rajiv Gandhi 2nd Cross Street is covered by 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 Chembakkam

The guideline value is an essential factor when registering property transactions in Chembakkam. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction, which is crucial for both buyers and sellers. It ensures that the property is valued accurately according to the latest regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Rajiv Gandhi 2nd Cross Street?

The current guideline value for Rajiv Gandhi 2nd Cross Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 850 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Rajiv Gandhi 2nd Cross Street?

Rajiv Gandhi 2nd Cross Street is classified as Residential Class IV Type - II.

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.

How is stamp duty calculated for property in Rajiv Gandhi 2nd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,50,000, the stamp duty at 7% would be Rs 59,500.