Guideline Value for Rajiv Nagar

Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - III.

How the guideline value of Rajiv Nagar has changed

The guideline value for Rajiv Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 385 per sq.ft. This increased to Rs 446 per sq.ft in 2003, showing a change of +16%. The value continued to rise significantly, reaching Rs 600 per sq.ft in 2007, marking an increase of +35%. The 2012 revision saw the value set at Rs 3,100 per sq.ft, which was a substantial increase of +417% from the previous figure. However, the 2017 revision saw a decrease to Rs 2,077 per sq.ft, reflecting a drop of -33%.

In 2023, the guideline value was revised to Rs 3,100 per sq.ft, and then it increased to Rs 3,400 per sq.ft in 2024, representing a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +783%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with the median being Rs 3,400 per sq.ft. Rajiv Nagar's 2024 figure matches this median.

• Pilliyar Koil street: Rs 3,400 per sq.ft (2024)
• Sannathi Street Kaladipet: Rs 3,800 per sq.ft (2024)
• Santhi street(Corner Plots): Rs 3,800 per sq.ft (2024)
• Perumal koil street: Rs 3,400 per sq.ft (2024)
• Sathangadu High Road: Rs 3,800 per sq.ft (2024)
• Sathangadu High Road (Corner Plots): Rs 3,800 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 3,400 per sq.ft, the guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. It is important to note that the 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?

The Sub Registrar Office that covers Rajiv Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Satthankadu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is either based on the current market rate or the sale price, whichever is higher. This ensures that the government receives the 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 3,400 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 385 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of +783% over this period.

What is the land classification for Rajiv Nagar?

Rajiv Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

What are the stamp duty rates for properties in Rajiv Nagar?

The stamp duty for properties in Rajiv Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Rajiv Nagar located?

The Thiruvottiyur Sub Registrar Office, which covers Rajiv Nagar, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.