Guideline Value for Rajiv Gandhi Nagar 4th Street

Rajiv Gandhi Nagar 4th Street guideline value

The current guideline value of Rajiv Gandhi Nagar 4th 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 4th Street has changed

The guideline value for Rajiv Gandhi Nagar 4th Street has undergone several revisions 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 rise of 13%. By 2007, the value had further increased to Rs 260 per sq.ft, which is a 60% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

In 2023, the guideline value was revised to Rs 1,600 per sq.ft, which was a significant increase of 515% from the 2007 figure. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,131%.

Guideline values in Pammal

In Pammal village, there are 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 for these streets is Rs 2,090 per sq.ft, indicating that Rajiv Gandhi Nagar 4th Street's 2024 figure is below that median.

• Rajiv Gandhi Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st 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 4th 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, while the registration fee at 2% would be Rs 35,200. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 4th Street?

The Sub Registrar Office that covers Rajiv Gandhi Nagar 4th 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 when buying or selling property in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar 4th Street?

The current guideline value of Rajiv Gandhi Nagar 4th Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases over the years, from Rs 143 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking 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 for 2024 include Rajiv Gandhi Nagar 1st, 2nd, 3rd, and 5th Streets, as well as Raj Street.

What is the registration fee for properties in Rajiv Gandhi Nagar 4th Street?

The registration fee for properties is calculated based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total registration fee would be Rs 35,200.

Where is the Sub Registrar Office for Rajiv Gandhi Nagar 4th Street located?

The Sub Registrar Office for Rajiv Gandhi Nagar 4th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.