Guideline Value for Rajiv Nagar

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar in Noombal village under the Kunrathur SRO is Rs 2,090 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Rajiv Nagar has changed

The guideline value of Rajiv Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 195 per sq.ft, which increased to Rs 1,273 per sq.ft in 2017, marking a substantial rise of 553%. Following this, the value rose to Rs 1,900 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 set the value at Rs 2,090 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2007, and 2012 for Rajiv Nagar. Overall, from 2003 to 2024, the guideline value has increased by 972%.

Guideline values in Noombal

In Noombal, there are 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is the same as the guideline value for Rajiv Nagar.

• Rajiv Nagar 2nd Main Road: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar 2nd Main Road 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar 3rd Main Road: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar 3rd Main Road 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar 3rd Main Road 3rd Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar 3rd Main Road 4th Cross Street: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Nagar?

The Rajiv Nagar area is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Noombal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Proper understanding of these values ensures that all legal requirements are met during the property transfer process.

Frequently asked questions

What is the current guideline value of Rajiv Nagar?

The current guideline value of Rajiv Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 195 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 972% over this period.

What is the land classification for Rajiv Nagar?

The land classification for Rajiv Nagar is Residential Special Type - I.

How is stamp duty calculated for properties in Rajiv Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 20,90,000 would incur a stamp duty of Rs 1,46,300.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.