Guideline Value for Rajiv Nagar Indira Gandhi Street

Rajiv Nagar Indira Gandhi Street guideline value

The current guideline value of Rajiv Nagar Indira Gandhi Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Rajiv Nagar Indira Gandhi Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained unchanged until the 2023 revision, where it was again Rs 3,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Rajiv Nagar Indira Gandhi Street's 2024 figure below that median.

• Rajiv Nagar Gandhi Street(Alias) Nethaji Colony 10th Cross Street: Rs 3,850 per sq.ft (2024)
• Rajiv Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Rajiv Nagar Nehru Street: Rs 3,850 per sq.ft (2024)
• Rajiv Nagar Pandiyan Street: Rs 3,850 per sq.ft (2024)
• Rajiv Nagar Radha Main Road: Rs 3,850 per sq.ft (2024)
• Rajiv Nagar Raghavendra Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar Indira Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Nagar Indira Gandhi Street?

The Sub Registrar Office that covers Rajiv Nagar Indira Gandhi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When you buy or sell a property, 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.

Frequently asked questions

What is the current guideline value of Rajiv Nagar Indira Gandhi Street?

The current guideline value of Rajiv Nagar Indira Gandhi Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase overall.

What is the land classification for Rajiv Nagar Indira Gandhi Street?

Rajiv Nagar Indira Gandhi Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Rajiv Nagar Indira Gandhi Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.