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Guideline Value

Corporate

Guideline Value for Rajiv Gandhi Nagar Gandhi Salai

₹3850/sq.ft.

The guideline value for Rajiv Gandhi Nagar Gandhi Salai in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rajiv Gandhi Nagar Gandhi Salai

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Rajiv Gandhi Nagar Gandhi Salai guideline value

The current guideline value of Rajiv Gandhi Nagar Gandhi Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Rajiv Gandhi Nagar Gandhi Salai has changed

The guideline value for Rajiv Gandhi Nagar Gandhi Salai has seen several revisions over the years. In 2012, the guideline value was set at Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. However, the most recent revision in 2024 has increased the guideline value to Rs 3,850 per sq.ft. Notably, the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

When examining the changes, the guideline value increased by 64% from 2017 to 2024. In contrast, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Rajiv Gandhi Nagar Gandhi Salai below this median.

Stamp duty and registration fee for property in Rajiv Gandhi Nagar Gandhi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at a rate of 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 3,46,500. It is important to note that 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 Gandhi Salai?

The Sub Registrar Office that covers Rajiv Gandhi Nagar Gandhi Salai is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating taxes and fees. Buyers should be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar Gandhi Salai?

The current guideline value of Rajiv Gandhi Nagar Gandhi Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for Rajiv Gandhi Nagar Gandhi Salai?

The land classification for Rajiv Gandhi Nagar Gandhi Salai is Residential Class II Type - III.

Where can I find the registration office for this area?

The registration office for Rajiv Gandhi Nagar Gandhi Salai is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.