Guideline Value for Rajiv Gandhi Nagar 3rd Cross Street

Rajiv Gandhi Nagar 3rd Cross Street guideline value

The current guideline value of Rajiv Gandhi Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Rajiv Gandhi Nagar 3rd Cross Street has changed

The guideline value for Rajiv Gandhi Nagar 3rd Cross Street has seen a change from Rs 2,000 per sq.ft in the 2023 revision to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase. The register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded figure was Rs 2,000 per sq.ft. The 2024 revision reflects the most recent update, which indicates a significant adjustment in the guideline value for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Rajiv Gandhi Nagar 3rd Cross Street's 2024 figure below that median.

• Rajiv Gandhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, making the total charges Rs 1,98,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 3rd Cross Street?

The Rajiv Gandhi Nagar 3rd Cross Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Kodungaiyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate taxes are levied on property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar 3rd Cross Street?

The current guideline value of Rajiv Gandhi Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

What is the land classification for Rajiv Gandhi Nagar 3rd Cross Street?

Rajiv Gandhi Nagar 3rd Cross Street falls under the Residential Class II Type - I land classification.

What is the median guideline value in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, which is above the current guideline value of Rajiv Gandhi Nagar 3rd Cross Street.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your specific SRO online.