Guideline Value for Rajiv Gandhi Nagar

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Rajiv Gandhi Nagar has changed

The guideline value for Rajiv Gandhi Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased dramatically to Rs 1,400 per sq.ft in 2012, marking a 600% rise. However, this was followed by a decrease to Rs 938 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, reflecting a substantial increase of 92% from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is the same as the guideline value for Rajiv Gandhi Nagar.

• R.K.M. Nagar: Rs 1,980 per sq.ft (2024)
• Poonniamman Nagar: Rs 1,430 per sq.ft (2024)
• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sangamithra Avenue: Rs 1,980 per sq.ft (2024)
• Perumal Koil Street: Rs 1,980 per sq.ft (2024)
• Sarasvathi Nagar: Rs 1,430 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Gandhi Nagar?

The Rajiv Gandhi Nagar area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chikkarayapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects a fair value for the property being transacted.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the land classification for Rajiv Gandhi Nagar?

Rajiv Gandhi Nagar is classified as Mixed Special Type - I, which indicates the type of land use permitted in this area.

Where can I find the registration office for Rajiv Gandhi Nagar?

The registration office for Rajiv Gandhi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.