Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Pozhichalur village, under the Pammal SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has undergone several revisions over the years. The earliest available revision is from 2017, where the guideline value was Rs 670 per sq.ft. In 2023, this value increased to Rs 1,000 per sq.ft, reflecting a significant change of 49%. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Rajiv Gandhi Street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO, with guideline values ranging from Rs 1,100 to Rs 4,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,320 per sq.ft, indicating that Rajiv Gandhi Street's 2024 figure is below this median.

• Rajivgandhi Nagar Extn.: Rs 1,100 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 1,100 per sq.ft (2024)
• Rajeswari Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Ramachandrapillai 1st Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Ramachandrapillai 2nd Street: Rs 1,320 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 amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is in line with the official rates set by the government. This helps maintain transparency and standardization in property dealings within the area.

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?

Since 2017, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value.

Which office handles property registrations for Rajiv Gandhi Street?

The Pammal Sub Registrar Office is responsible for property registrations in Rajiv Gandhi Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.