Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and finally to the current rate of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which places Rajiv Gandhi Street's 2024 figure below that median.

• Ram Nagar: Rs 4,400 per sq.ft (2024)
• Rajaji Road: Rs 2,800 per sq.ft (2024)
• Raghupathi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 6th Street: Rs 3,300 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total charges to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajiv Gandhi Street?

The Sub Registrar Office that covers Rajiv Gandhi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the property is registered at a value recognized by the government. This helps in maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 300%.

What are the stamp duty and registration fees for property in Rajiv Gandhi Street?

For a property with a guideline value of Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Rajiv Gandhi Street?

The Alandur Sub Registrar Office covers Rajiv Gandhi Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class II Type - II under the Alandur SRO.