Guideline Value for Rajiv Gandhi 2nd Street

Rajiv Gandhi 2nd Street guideline value

The current guideline value of Rajiv Gandhi 2nd Street in Thiruneermalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class I Type - II.

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

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, indicating that Rajiv Gandhi 2nd Street's 2024 figure is below the median.

• Rajiv Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi 1st Street: Rs 2,200 per sq.ft (2024)
• Rajeev Gandhi Nagar (All Streets): Rs 2,200 per sq.ft (2024)
• Ranga Nagar: Rs 2,420 per sq.ft (2024)
• Ranga Nagar 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Ranga Nagar 1st Main Road: Rs 2,420 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Rajiv Gandhi 2nd Street?

The Rajiv Gandhi 2nd Street falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an official rate set by the government that is used for property registration. It serves as a basis for calculating stamp duty and registration fees during the sale or purchase of property in Thiruneermalai.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

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

The current guideline value of Rajiv Gandhi 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024. The most recent change was a 10% increase from Rs 2,000 per sq.ft in 2023.

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

Rajiv Gandhi 2nd Street is classified as Residential Class I Type - II. This classification is important for determining the guideline value and property regulations.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles property registrations for Rajiv Gandhi 2nd Street.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 22,00,000, the stamp duty would be calculated on this amount unless the sale price is higher.