Guideline Value

Corporate

Guideline Value for Rajiv Nagar

₹3850/sq.ft.

The guideline value for Rajiv Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rajiv Nagar

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Rajiv Nagar guideline value

The current guideline value of Rajiv Nagar, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Rajiv Nagar has changed

The guideline value for Rajiv Nagar has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the guideline value at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in 2024, reflecting a change of +10%.

Prior to the 2023 revision, there were no recorded figures for Rajiv Nagar in the earlier years mentioned. The 2024 figure of Rs 3,850 per sq.ft is below the median value of Rs 4,400 per sq.ft for the 2,691 streets in Velachery that fall under the Velacheri SRO.

Guideline values in Velachery

In Velachery, the guideline values range from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Rajiv Nagar's 2024 guideline value is below this median.

Stamp duty and registration fee for property in Rajiv Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Nagar?

The Sub Registrar Office that covers Rajiv Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When entering into a property transaction, it is essential to be aware of the guideline value, as it can significantly affect the overall cost of the transaction. Buyers and sellers must ensure that they comply with the regulations set forth by the Registration Department to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Rajiv Nagar?

The current guideline value of Rajiv Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajiv Nagar has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Rajiv Nagar?

Rajiv Nagar falls under the Residential Class II Type - III land classification. This classification is important for understanding the regulations and potential uses of the land.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,46,500.

Which office handles registrations for Rajiv Nagar?

The Velacheri Sub Registrar Office is responsible for handling registrations for Rajiv Nagar. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.