Guideline Value for Rajiv Nagar

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar, located in Perinjampakkam village under the Sriperumpudur SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Rajiv Nagar has changed

The guideline value for Rajiv Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 150 per sq.ft. This remained unchanged until the 2017 revision, where it was reduced to Rs 100 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 150 per sq.ft. The most recent 2024 revision has maintained this value at Rs 150 per sq.ft, reflecting a 0% change from the previous year.

Looking at the changes between the revisions, from 2017 to 2023, there was a significant increase of 50%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 150 per sq.ft.

Guideline values in Perinjampakkam

In Perinjampakkam, there are 18 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which aligns with the guideline value of Rajiv Nagar.

• M.G.R.Nagar: Rs 100 per sq.ft (2024)
• M.G.R.Cross Street: Rs 100 per sq.ft (2024)
• Subam Avenue I: Rs 150 per sq.ft (2024)
• Subham Avenue II: Rs 150 per sq.ft (2024)
• Sumangali Nagar: Rs 350 per sq.ft (2024)
• Krishna Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees together to Rs 13,500. 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 details.

Which Sub Registrar Office covers Rajiv Nagar?

The Sub Registrar Office that covers Rajiv Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Perinjampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, with the higher value being used to calculate the applicable duties and fees. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Rajiv Nagar?

The current guideline value of Rajiv Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining it at Rs 150 per sq.ft. The value was Rs 100 per sq.ft in 2017 and was Rs 150 per sq.ft in both 2012 and 2023.

What is the land classification of Rajiv Nagar?

Rajiv Nagar is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Rajiv Nagar?

The Sub Registrar Office for Rajiv Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 at a rate of 7%.