Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Ayakolathur village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

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 recorded revision is from 2012, where the value was Rs 150 per sq.ft. In 2017, it decreased to Rs 100 per sq.ft, marking a 33% decline. The value then increased by 50% to Rs 150 per sq.ft in 2023, and it remained unchanged at Rs 150 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the guideline value has remained consistent at Rs 150 per sq.ft from 2012 to 2024, showing no overall change during this period.

Guideline values in Ayakolathur

In Ayakolathur, there are 15 streets under the Sriperumpudur SRO that have a guideline value for 2024 ranging from Rs 100 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Rajiv Gandhi Street's 2024 figure below this median.

• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Sri Arulmigu Sri Arunchala Nagar: Rs 500 per sq.ft (2024)
• Sri chakkra town: Rs 300 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)
• ThiruVeedhiyamman Koil Street: Rs 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total cost to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajiv Gandhi Street?

The Sub Registrar Office covering Rajiv Gandhi Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ayakolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the transaction must be registered at the local Sub Registrar Office, and the guideline value will influence the overall costs involved. It is essential for both parties to understand this value to ensure compliance with local regulations and to avoid any potential disputes.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a decrease to Rs 100 per sq.ft in 2017 and an increase back to Rs 150 per sq.ft in 2023.

What is the land classification for Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500.

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

The Sub Registrar Office for Rajiv Gandhi Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.