Guideline Value for Rajiv Gandhi Nagar 5th Street

Rajiv Gandhi Nagar 5th Street guideline value

The current guideline value of Rajiv Gandhi Nagar 5th 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 5th Street has changed

The guideline value for Rajiv Gandhi Nagar 5th 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 rise of 13%. By 2007, the value 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, reflecting a substantial jump of 515% from the 2007 figure. The most recent revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, which is a 10% increase from the 2023 value. 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 that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Rajiv Gandhi Nagar 5th Street is below this median.

• Rajiv Gandhi Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 5th Street?

The Rajiv Gandhi Nagar 5th 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 during the registration of property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps establish a transparent process for both parties involved. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar 5th Street?

The current guideline value of Rajiv Gandhi Nagar 5th 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 increased significantly from Rs 143 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1131%.

What are the stamp duty and registration fees for a property in Rajiv Gandhi Nagar 5th Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office covers Rajiv Gandhi Nagar 5th Street?

The Pammal Sub Registrar Office covers Rajiv Gandhi Nagar 5th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Rajiv Gandhi Nagar 5th Street?

Rajiv Gandhi Nagar 5th Street is classified as Residential Class III Type - II.