Guideline Value for Rajiv Gandhi Nagar 2nd Street

Rajiv Gandhi Nagar 2nd Street guideline value

The current guideline value for Rajiv Gandhi Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

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

Over the years, the guideline value for Rajiv Gandhi Nagar 2nd Street has seen 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 significantly increased to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,300 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 to 2017 period, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 8%. Overall, 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 carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Rajiv Gandhi Nagar 2nd Street's current figure below that median.

• Rajiv Gandhi Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st 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 2nd 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 stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Rajiv Gandhi Nagar 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is used as a benchmark for calculating the taxes owed during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. The registration office uses this value to ensure that the property is accurately assessed for tax purposes.

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 1,300 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 back to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024.

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

Rajiv Gandhi Nagar 2nd Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Rajiv Gandhi Nagar 2nd 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 Tondaiarpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 91,000.