Guideline Value for Rajiv Ganthi Nagar

Rajiv Ganthi Nagar guideline value

The current guideline value of Rajiv Ganthi Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Rajiv Ganthi Nagar has changed

The guideline value for Rajiv Ganthi Nagar has experienced several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 300 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a significant rise of 167%. However, between 2012 and 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. In 2023, the guideline value was revised to Rs 1,000 per sq.ft, and it remained unchanged in the 2024 revision, now set at Rs 1,001 per sq.ft.

Overall, from 2007 to 2024, the guideline value has increased by 234%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,001 per sq.ft, which is equal to the current guideline value of Rajiv Ganthi Nagar.

• Rammmorthi Nagar: Rs 1,000 per sq.ft (2024)
• Railway Station Road: Rs 1,100 per sq.ft (2024)
• Porkaliyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Ponga Nagar(Nehru Nagar): Rs 1,100 per sq.ft (2024)
• Pillai Thottam: Rs 1,001 per sq.ft (2024)
• Sastri Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Ganthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajiv Ganthi Nagar?

The Sub Registrar Office that covers Rajiv Ganthi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kathivakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajiv Ganthi Nagar?

The current guideline value of Rajiv Ganthi Nagar is Rs 1,001 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 1,001 per sq.ft in 2024, with several revisions in between, including a decrease from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017.

What is the land classification of Rajiv Ganthi Nagar?

Rajiv Ganthi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. For detailed calculations, you can use the stamp duty and registration fee calculator.