Guideline Value for Rajiv Gandhi Nagar

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar, located in Sekkadu village under the Avadi SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Rajiv Gandhi Nagar has changed

The guideline value for Rajiv Gandhi Nagar has seen several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 1,200 per sq.ft. In 2017, the value decreased to Rs 804 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft again. The most recent revision in 2024 raised the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sekkadu

In Sekkadu village, there are 56 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft, with the median value being Rs 1,320 per sq.ft. The guideline value of Rajiv Gandhi Nagar matches this median figure.

• Reddiyar Street: Rs 1,075 per sq.ft (2024)
• R.R.Nagar bharathiyar street: Rs 1,320 per sq.ft (2024)
• Ponnambalam Nagar: Rs 1,320 per sq.ft (2024)
• Sanjeevi Nagar: Rs 1,320 per sq.ft (2024)
• Sekkadu Mettu Street I: Rs 1,320 per sq.ft (2024)
• Sekkadu Mettu Street II: Rs 930 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 details.

Which Sub Registrar Office covers Rajiv Gandhi Nagar?

The Sub Registrar Office that covers Rajiv Gandhi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for properties in Sekkadu. It serves as the basis for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the registration requirements.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 1,320 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Rajiv Gandhi Nagar?

Rajiv Gandhi Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

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

The Sub Registrar Office for Rajiv Gandhi Nagar is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Rajiv Gandhi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,18,800, including both stamp duty and registration fees.