Guideline Value for Rajiv Gandhi Nagar 1st Street

Rajiv Gandhi Nagar 1st Street guideline value

The current guideline value of Rajiv Gandhi Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Rajiv Gandhi Nagar 1st Street has changed

Over the years, the guideline value of Rajiv Gandhi Nagar 1st Street has experienced several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it rose to Rs 1,300 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects an 8% increase. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Rajiv Gandhi Nagar 1st Street is below this median.

• Rajiv Gandhi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Rajavelu Street: Rs 2,200 per sq.ft (2024)
• Rajasekaran Nagar street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The applicable stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. 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 details on your specific property.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 1st Street?

The Rajiv Gandhi Nagar 1st Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you approach the registration office, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar 1st Street?

The current guideline value of Rajiv Gandhi Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Rajiv Gandhi Nagar 1st Street?

Rajiv Gandhi Nagar 1st Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Rajiv Gandhi Nagar 1st Street?

The Sub Registrar Office covering Rajiv Gandhi Nagar 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Rajiv Gandhi Nagar 1st 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 13,00,000, the stamp duty would be Rs 91,000 at 7%.