Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kerugambakkam village under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2023 revision. The most recent 2024 revision has further increased the value to Rs 1,100 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Rajiv Gandhi Street. The changes between the revisions indicate a substantial increase, particularly from 2017 to 2023, which saw a 49% rise in the guideline value.

Guideline values in Kerugambakkam

In Kerugambakkam village, there are 144 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Rajiv Gandhi Street's 2024 figure is below this median.

• Ramachandira Nagar: Rs 2,750 per sq.ft (2024)
• Rabit Nagar: Rs 3,575 per sq.ft (2024)
• R.K. Arasu Street: Rs 1,980 per sq.ft (2024)
• R.K.B. Nagar: Rs 1,980 per sq.ft (2024)
• R.K. Nagar: Rs 1,980 per sq.ft (2024)
• R.K.Nagar (S.No.595/7a): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Street?

The Sub Registrar Office that covers Rajiv Gandhi Street 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 information.

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

The guideline value is an important factor when registering property transactions in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the property is assessed fairly for taxation purposes. It helps in maintaining transparency in property transactions and aids in the calculation of the necessary fees that are applicable.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Kerugambakkam and their guideline values?

Other streets in Kerugambakkam include Ramachandira Nagar at Rs 2,750 per sq.ft, Rabit Nagar at Rs 3,575 per sq.ft, and R.K. Arasu Street at Rs 1,980 per sq.ft, among others.

What fees are applicable when registering property in Rajiv Gandhi Street?

The fees applicable include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Rajiv Gandhi Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.