Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 210 per sq.ft, effective from 1 July 2024. This street is located in Nemili village under the Sriperumpudur Sub Registrar Office (SRO) and falls under Residential Class III Type - I land classification.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value of Rajiv Gandhi Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 200 per sq.ft. In 2017, it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, the value increased significantly to Rs 200 per sq.ft in 2023, and then to Rs 210 per sq.ft in the 2024 revision, reflecting a 5% increase from the previous year. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value rose by 49%, demonstrating a notable increase in the recent years. Overall, from 2012 to 2024, the guideline value has increased by 5%, indicating a gradual adjustment in property valuation in this area.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with the median value being Rs 250 per sq.ft. Rajiv Gandhi Street's 2024 guideline value of Rs 210 per sq.ft is below this median.

• Rajivgandhi Nagar: Rs 210 per sq.ft (2024)
• Ramanan Nagar: Rs 210 per sq.ft (2024)
• Rajan Nagar: Rs 300 per sq.ft (2024)
• Rajaji Street: Rs 150 per sq.ft (2024)
• Royal Homes: Rs 300 per sq.ft (2024)
• Prime City: Rs 210 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 210 per sq.ft, the total guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total fees to Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Nemili

The guideline value plays a crucial role during property registration in Nemili. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately. Buyers and sellers must consider this value when negotiating prices to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What are the other streets in Nemili with similar guideline values?

Other streets in Nemili with similar guideline values include Rajivgandhi Nagar and Ramanan Nagar, both at Rs 210 per sq.ft in 2024.

What is the registration fee for property in Rajiv Gandhi Street?

The registration fee for property in Rajiv Gandhi Street is calculated based on the guideline value, which is Rs 210 per sq.ft. For a 1,000 sq.ft plot, the registration fee would amount to Rs 4,200.

Which office handles property registration for Rajiv Gandhi Street?

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