Guideline Value for Rajiv Gandhi Nagar

Rajiv Gandhi Nagar guideline value

The current guideline value of Rajiv Gandhi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rajiv Gandhi Nagar has changed

Over the years, the guideline value of Rajiv Gandhi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 320 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 369%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and subsequently to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value surged by 49%, and the overall increase from 2007 to 2024 is a remarkable 416%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Rajiv Gandhi Nagar's 2024 figure above this median.

• Rajaji Sali: Rs 3,850 per sq.ft (2024)
• Railway Quarters: Rs 1,100 per sq.ft (2024)
• Pungathur Colony: Rs 1,100 per sq.ft (2024)
• Pungathur: Rs 1,650 per sq.ft (2024)
• Pumphouse Road: Rs 1,100 per sq.ft (2024)
• Pukalenthi Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. 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 further assistance.

Which Sub Registrar Office covers Rajiv Gandhi Nagar?

The Sub Registrar Office that covers Rajiv Gandhi Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvallur, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly in the official records.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps maintain transparency and accountability in real estate transactions in the region.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Nagar?

The current guideline value of Rajiv Gandhi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 320 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 416% over the years.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations in Rajiv Gandhi Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations in Rajiv Gandhi Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the significance of the guideline value in real estate transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is recorded accurately in official records and helps maintain transparency in real estate dealings.