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 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajiv Gandhi Nagar 4th street has changed

The guideline value for Rajiv Gandhi Nagar 4th street has seen several revisions over the years. 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, marking a decline of 33%. Following this, the value rose significantly to Rs 1,200 per sq.ft in the 2023 revision, and then it increased to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. 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, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which indicates that the 2024 figure of Rs 1,300 per sq.ft for Rajiv Gandhi Nagar 4th street is below this median.

• Rajiv Gandhi Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st 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 4th street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling 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.

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

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

The Rajiv Gandhi Nagar 4th street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to consider this value during negotiations and when preparing for the registration process.

Frequently asked questions

What is the current guideline value for Rajiv Gandhi Nagar 4th street?

The current guideline value for Rajiv Gandhi Nagar 4th 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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Rajiv Gandhi Nagar 4th street?

The land classification for Rajiv Gandhi Nagar 4th street is Residential Class II Type - I.

Where is the Royapuram SRO located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Rajiv Gandhi Nagar 4th street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current rate, the total stamp duty would be Rs 91,000.