Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Soorapattu village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value for Rajiv Gandhi Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 1,000 per sq.ft. In 2017, this figure decreased to Rs 670 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. Rajiv Gandhi Street's 2024 figure is below this median.

• Raj Nagar: Rs 1,700 per sq.ft (2024)
• Ratchagan Street: Rs 1,100 per sq.ft (2024)
• Royal city: Rs 1,400 per sq.ft (2024)
• Royal Star: Rs 2,201 per sq.ft (2024)
• Pillaiyar Koil Street(sanmugapuram 2nd Ward): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street(Murugambedu): Rs 1,300 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Soorapattu. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Therefore, it is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Rajiv Gandhi Street?

Rajiv Gandhi Street is classified as Residential Class III Type - I.

What are the other streets in Soorapattu with their guideline values?

Other streets in Soorapattu include Raj Nagar at Rs 1,700 per sq.ft, Ratchagan Street at Rs 1,100 per sq.ft, Royal city at Rs 1,400 per sq.ft, Royal Star at Rs 2,201 per sq.ft, and Pillaiyar Koil Street(sanmugapuram 2nd Ward) and Pillaiyar Koil Street(Murugambedu) both at Rs 1,300 per sq.ft.

Where is the Sub Registrar Office for Rajiv Gandhi Street located?

The Sub Registrar Office for Rajiv Gandhi Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.