Guideline Value for Rajiv Nagar

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Rajiv Nagar has changed

The guideline value for Rajiv Nagar has seen significant changes over the years. The 2007 revision recorded a value of Rs 150 per sq.ft, which increased dramatically to Rs 1,400 per sq.ft in 2012, marking an increase of 833%. However, from 2012 to 2017, the value decreased to Rs 938 per sq.ft, a drop of 33%. The value then rose to Rs 1,400 per sq.ft in 2023, reflecting a 49% increase, and is now set at Rs 1,540 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 value, the guideline value has increased by 927%. The changes in the guideline value reflect the fluctuations in the real estate landscape over the years.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which matches the guideline value of Rajiv Nagar.

• Ramalingam Nagar: Rs 1,540 per sq.ft (2024)
• Rathanam Nagar Annex: Rs 1,540 per sq.ft (2024)
• Poovai Govindharaj Nagar: Rs 1,540 per sq.ft (2024)
• Sakthi Nagar: Rs 1,540 per sq.ft (2024)
• Sakthivel Nagar: Rs 1,540 per sq.ft (2024)
• Perumal Koil street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,540 per sq.ft, the guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, totaling Rs 1,38,600. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Rajiv Nagar?

The Sub Registrar Office that covers Rajiv Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruverkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees 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 Nagar?

The current guideline value of Rajiv Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 927% over the years.

What are the stamp duty and registration fees for property in Rajiv Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,38,600, calculated based on the guideline value of Rs 15,40,000.

Which office handles property registrations in Rajiv Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Rajiv Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Rajiv Nagar?

Rajiv Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.