Guideline Value for Rajiv Nagar

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,640 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 Nagar has changed

The guideline value for Rajiv Nagar has seen several revisions over the years. Starting from Rs 200 per sq.ft in 2007, it increased significantly to Rs 2,400 per sq.ft in 2012, marking a substantial rise of 1100%. However, it then decreased to Rs 1,608 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,400 per sq.ft in 2023, and most recently, it has increased to Rs 2,640 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, bringing the value to Rs 2,400 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1220%, highlighting the considerable changes in property valuation in this area over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Rajiv Nagar's 2024 figure above this median.

• Rajiv Gandhi Street: Rs 2,310 per sq.ft (2024)
• Ramadass Street: Rs 2,640 per sq.ft (2024)
• Rajeswari Avenue: Rs 1,980 per sq.ft (2024)
• Rajendra Prasad Theru: Rs 2,310 per sq.ft (2024)
• Ramalinga Adikal Street: Rs 1,650 per sq.ft (2024)
• Ramanar Street: Rs 2,640 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 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total charges to Rs 2,37,600. Please 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 Sub Registrar Office that covers Rajiv Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perungalathur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the transaction process.

When a property is sold, the guideline value acts as a benchmark to ensure that transactions are recorded at a fair value. Buyers should be aware that the stamp duty and registration fees will be based on either the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajiv Nagar?

The current guideline value of Rajiv Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, showing significant changes over the years, including a 1220% overall increase.

What is the median guideline value in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with Rajiv Nagar's 2024 figure being above this median.

Where is the Sub Registrar Office for Rajiv Nagar located?

The Sub Registrar Office for Rajiv Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Rajiv Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 26,40,000 incurs a stamp duty of Rs 1,84,800 at 7%.