Guideline Value for Rajiv Gandhi Nagar

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO, classified as Residential Special Type - I.

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 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and the most recent revision in 2024 has raised it to Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 24%. The changes between revisions include a 49% increase from 2017 to 2023 and a 25% decrease from 2012 to 2017. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, and Rajiv Gandhi Nagar's 2024 figure of Rs 990 per sq.ft is above this median.

• Ramakrishna Nagar: Rs 770 per sq.ft (2024)
• Ramani Iyer Nagar: Rs 440 per sq.ft (2024)
• Rahmaniya Nagar Phase - II: Rs 770 per sq.ft (2024)
• Rahmaniya Nagar: Rs 770 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 880 per sq.ft (2024)
• Ranganathapuram: Rs 880 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as assessed by the government. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 800 per sq.ft to Rs 990 per sq.ft in 2024, reflecting an overall increase of 24%. The most significant change occurred from 2017 to 2023, with a 49% increase.

What is the land classification for Rajiv Gandhi Nagar?

Rajiv Gandhi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Rajiv Gandhi Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100. This is calculated based on the guideline value.

Which office handles property registrations for Rajiv Gandhi Nagar?

The Padappai Sub Registrar Office is responsible for property registrations in Rajiv Gandhi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.