Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Molachoor village is Rs 600 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Rajiv Gandhi Street has changed

Over the years, the guideline value of Rajiv Gandhi Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 60 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 900%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 600 per sq.ft in 2023 and has remained unchanged at this rate in the 2024 revision.

In summary, the guideline value has changed as follows: from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then to Rs 402 per sq.ft in 2017, back to Rs 600 per sq.ft in 2023, and remaining at Rs 600 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which aligns with the current guideline value of Rajiv Gandhi Street.

• Ramanujar Street: Rs 600 per sq.ft (2024)
• Ramdass Theatre street: Rs 600 per sq.ft (2024)
• Rajaji Street: Rs 600 per sq.ft (2024)
• Punitha Thomaiyar Street: Rs 600 per sq.ft (2024)
• Punitha Therasa Street: Rs 600 per sq.ft (2024)
• Punitha Susaiappar Street: Rs 600 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is charged at 7%, totaling Rs 42,000, and the registration fee is charged at 2%, amounting to Rs 12,000. Therefore, the total fees together would be Rs 54,000. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. 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 or the sale price is considered, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, and then returned to Rs 600 per sq.ft in both 2023 and 2024.

What is the classification of Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Special Type - III under the guideline value register.

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

The Sub Registrar Office for Rajiv Gandhi Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Molachoor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.