Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sriperumpudur SRO, with a land classification of Residential Class II 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. In the 2012 revision, the value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the value returned to Rs 200 per sq.ft. The current revision in 2024 maintains this value, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft, indicating stability in the guideline value for this street over the years. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Rajiv Gandhi Street's 2024 guideline value below this median.

• Rangaswamy Koil Street: Rs 150 per sq.ft (2024)
• Puthu Street: Rs 200 per sq.ft (2024)
• Royal Paradise: Rs 250 per sq.ft (2024)
• RPG Global City: Rs 250 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Sasthapuri: 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 rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 that covers 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 Kolathur

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. 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 registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value for the property being transferred.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most notable being a decrease to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class II Type - I, indicating its designation for residential use.

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

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

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.