Guideline Value for Rajiv Gandhi Nagar 2nd Street

Rajiv Gandhi Nagar 2nd Street guideline value

The current guideline value of Rajiv Gandhi Nagar 2nd Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

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

Over the years, the guideline value of Rajiv Gandhi Nagar 2nd Street has seen significant changes. In 2002, the value was Rs 143 per sq.ft, which increased to Rs 162 per sq.ft in 2003, marking a rise of 13%. By 2007, the value further increased to Rs 260 per sq.ft, reflecting a 60% change from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007 to 2023, the guideline value surged to Rs 1,600 per sq.ft, representing a substantial increase of 515%. The most recent revision in 2024 brought the value to Rs 1,760 per sq.ft, a 10% increase from the previous year. Overall, the guideline value has risen by 1,131% from 2002 to 2024.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, positioning Rajiv Gandhi Nagar 2nd Street below this median.

• Rajiv Gandhi Nagar 1st Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Street / Eswaran Nagar: Rs 2,750 per sq.ft (2024)
• Raj Street: Rs 1,760 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 2nd Street?

The Sub Registrar Office that covers Rajiv Gandhi Nagar 2nd Street is 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Rajiv Gandhi Nagar 2nd Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 143 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, which is an overall increase of 1,131%.

What are the other streets in Pammal with the same guideline value?

Other streets in Pammal with the same guideline value of Rs 1,760 per sq.ft include Rajiv Gandhi Nagar 1st Street, Rajiv Gandhi Nagar 3rd Street, Rajiv Gandhi Nagar 4th Street, Rajiv Gandhi Nagar 5th Street, and Raj Street.

What is the registration fee for property in Rajiv Gandhi Nagar 2nd Street?

The registration fee for property in Rajiv Gandhi Nagar 2nd Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 17,60,000, the registration fee would be Rs 35,200.

Where can I find the Sub Registrar Office for Rajiv Gandhi Nagar 2nd Street?

The Sub Registrar Office for Rajiv Gandhi Nagar 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.