Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Perungalathur village, under the Padappai SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Rajiv Gandhi Street has changed

The guideline value of Rajiv Gandhi Street has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a 600% increase. However, from 2012 to 2017, the value decreased to Rs 1,407 per sq.ft, a reduction of 33%. The value then rose to Rs 2,100 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,310 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Rajiv Gandhi Street. Overall, from 2007 to 2024, the guideline value has increased by 670%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the guideline value of Rajiv Gandhi Street.

• Rajiv Nagar: Rs 2,640 per sq.ft (2024)
• Ramadass Street: Rs 2,640 per sq.ft (2024)
• Rajeswari Avenue: Rs 1,980 per sq.ft (2024)
• Rajendra Prasad Theru: Rs 2,310 per sq.ft (2024)
• Ramalinga Adikal Street: Rs 1,650 per sq.ft (2024)
• Ramanar Street: Rs 2,640 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. Please 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 details.

Which Sub Registrar Office covers Rajiv Gandhi Street?

The Sub Registrar Office that covers Rajiv Gandhi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable taxes. This amount is typically based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from 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 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 670% over the years.

What is the land classification of Rajiv Gandhi Street?

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

Which office handles property registrations for Rajiv Gandhi Street?

The Padappai Sub Registrar Office handles property registrations for Rajiv Gandhi Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Rajiv Gandhi Street?

Stamp duty for properties in Rajiv Gandhi Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 23,10,000, leading to a stamp duty of Rs 1,61,700.