Guideline Value for Rajiv Gandhi Street / Eswaran Nagar

Rajiv Gandhi Street / Eswaran Nagar guideline value

The current guideline value of Rajiv Gandhi Street / Eswaran Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Rajiv Gandhi Street / Eswaran Nagar has changed

The guideline value for Rajiv Gandhi Street / Eswaran Nagar has undergone significant changes over the years. In 2002, the guideline value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 13% rise. By 2007, the value had risen to Rs 260 per sq.ft, reflecting a 25% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007, the guideline value saw a substantial increase to Rs 2,500 per sq.ft in 2023, representing an 862% rise. The most recent revision in 2024 saw the guideline value increase to Rs 2,750 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,395%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Rajiv Gandhi Street / Eswaran Nagar is above this median.

• Rajiv Gandhi Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Raj Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar 1st Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Street / Eswaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajiv Gandhi Street / Eswaran Nagar?

The Sub Registrar Office that covers Rajiv Gandhi Street / Eswaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. 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 is used to calculate the applicable duties, ensuring that the government receives the correct amount based on the property's value as determined by the latest revisions in the guideline value register.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street / Eswaran Nagar?

The current guideline value of Rajiv Gandhi Street / Eswaran Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 184 per sq.ft to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,395%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations in this area?

The Pammal Sub Registrar Office handles property registrations for Rajiv Gandhi Street / Eswaran Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined?

The guideline value is determined based on revisions made by the Registration Department, which reflect changes in property values over time, ensuring that the values are updated regularly for accurate taxation purposes.