Guideline Value for Rajiv Gandhi Street

Rajiv Gandhi Street guideline value

The current guideline value of Rajiv Gandhi Street in Grandlyon village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II 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. In the 2007 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in the 2017 revision. From 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, marking a 10% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the guideline value of Rajiv Gandhi Street.

• Revathy Grantlyon: Rs 880 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 660 per sq.ft (2024)
• Paramasivam Street: Rs 660 per sq.ft (2024)
• Senthil Nagar: Rs 880 per sq.ft (2024)
• Sheelo Nagar: Rs 440 per sq.ft (2024)
• Silvar Nagar: Rs 660 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps establish a clear understanding of the property's worth, which is crucial for both buyers and sellers during the negotiation process.

Frequently asked questions

What is the current guideline value of Rajiv Gandhi Street?

The current guideline value of Rajiv Gandhi Street is Rs 660 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 660 per sq.ft in 2024, marking an overall increase of 120% over this period.

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.

Where can I find the registration office for Rajiv Gandhi Street?

The registration office for Rajiv Gandhi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.