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Guideline Value

Corporate

Guideline Value for Rajiv Gandhi Nagar Main Road

₹3850/sq.ft.

The guideline value for Rajiv Gandhi Nagar Main Road 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 ₹1500 /sq.ft.
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 Main Road

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Rajiv Gandhi Nagar Main Road guideline value

The current guideline value for Rajiv Gandhi Nagar Main Road 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 Main Road has changed

The guideline value for Rajiv Gandhi Nagar Main Road has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 2,345 per sq.ft in the 2017 revision. The latest revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, marking a 64% increase from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 157%. The revisions for the years 2023, 2003, and 2002 do not have any figures recorded for this street.

Guideline values in Velachery

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

Stamp duty and registration fee for property in Rajiv Gandhi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that 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 details.

Which Sub Registrar Office covers Rajiv Gandhi Nagar Main Road?

The Sub Registrar Office that covers Rajiv Gandhi Nagar Main Road 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 further assistance.

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, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees payable at the time of registration.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Rajiv Gandhi Nagar Main Road?

The current guideline value for Rajiv Gandhi Nagar Main Road 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 seen several changes, increasing from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, which is a total increase of 157% over the years.

What is the land classification for Rajiv Gandhi Nagar Main Road?

The land classification for Rajiv Gandhi Nagar Main Road is Residential Class II Type - III, indicating its suitability for residential purposes.

What is the stamp duty rate for properties in Rajiv Gandhi Nagar Main Road?

The stamp duty rate for properties in Rajiv Gandhi Nagar Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajiv Gandhi Nagar Main Road?

The Velacheri Sub Registrar Office covers Rajiv Gandhi Nagar Main Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.