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Guideline Value

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Guideline Value for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St

₹3850/sq.ft.

The guideline value for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Rajiv Nagar Radha 1st St

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Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St guideline value

The current guideline value of Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St 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 Rajiv Nagar Radha 1st St has changed

The guideline value for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St has seen significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register does not include figures for the years 2002, 2003, 2007, and 2012 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. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St's value below this median.

Stamp duty and registration fee for property in Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St

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 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St?

The Sub Registrar Office that covers Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St 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 in property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate applicable fees.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St?

The current guideline value for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St 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 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for this street?

The land classification for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St is Residential Class II Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Rajiv Gandhi Nagar Rajiv Nagar Radha 1st St 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 higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,69,500.