Guideline Value for Rajiv Gandhi Nagar 3rd Street

Rajiv Gandhi Nagar 3rd Street guideline value

The current guideline value of Rajiv Gandhi Nagar 3rd 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 3rd Street has changed

The guideline value for Rajiv Gandhi Nagar 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 143 per sq.ft. This increased to Rs 162 per sq.ft in 2003, marking a 13% rise. By 2007, the value had jumped to Rs 260 per sq.ft, reflecting a 60% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

In the 2023 revision, the guideline value was Rs 1,600 per sq.ft, which was a substantial increase of 515% from the 2007 figure. The most recent revision in 2024 saw the guideline value rise to Rs 1,760 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1131%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value 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, placing Rajiv Gandhi Nagar 3rd Street's 2024 figure below that median.

• Rajiv Gandhi Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st 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 3rd 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 cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Rajiv Gandhi Nagar 3rd Street falls under the jurisdiction of 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 when registering a property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated based on an official, standardized value.

When buying or selling property, the guideline value helps both parties understand the official worth of the property. This value is essential for legal and financial processes, ensuring transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Rajiv Gandhi Nagar 3rd 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 from Rs 143 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1131% over this period.

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

Other streets in Pammal with the same guideline value of Rs 1,760 per sq.ft (2024) include Rajiv Gandhi Nagar 1st, 2nd, 4th, and 5th Streets, as well as Raj Street.

How is the stamp duty calculated for properties in Rajiv Gandhi Nagar 3rd Street?

Stamp duty for properties in Rajiv Gandhi Nagar 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200.

Where can I find the Sub Registrar Office for Rajiv Gandhi Nagar 3rd Street?

The Sub Registrar Office covering Rajiv Gandhi Nagar 3rd Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.