Guideline Value for Rajiv Road

Rajiv Road guideline value

The current guideline value of Rajiv Road in Kottivakkam village, under the Adayar SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Rajiv Road has changed

The guideline value for Rajiv Road has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 257 per sq.ft. This increased significantly to Rs 306 per sq.ft in 2003, marking a 19% rise. The value then saw a substantial jump to Rs 3,000 per sq.ft in 2007, which is an increase of 880%. In the 2012 revision, the value was Rs 3,500 per sq.ft, reflecting a decrease of 33% from the previous figure. The 2017 revision brought the value down to Rs 2,345 per sq.ft, a drop of 33% from 2012. However, from 2017 to 2023, the guideline value increased significantly to Rs 3,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an increase of 11% from 2023.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Rajiv Road.

• Ramalingam Nagar: Rs 3,300 per sq.ft (2024)
• Raja Garden Main Road: Rs 3,900 per sq.ft (2024)
• Raja Garden 3rd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden 2nd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden 1st Street: Rs 3,900 per sq.ft (2024)
• Puratchi Thalaivi Nagar Main Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, leading to a total of Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajiv Road?

The Sub Registrar Office covering Rajiv Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price of the property.

When selling a property, the guideline value can affect the overall transaction process. It is essential for both buyers and sellers to understand the guideline value to ensure compliance with local regulations and to accurately calculate the associated fees during the property transfer.

Frequently asked questions

What is the current guideline value of Rajiv Road?

The current guideline value of Rajiv Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value of Rajiv Road changed over the years?

The guideline value has changed several times, starting from Rs 257 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1418%.

What is the land classification for Rajiv Road?

Rajiv Road is classified as Residential Class II Type - I according to the local guidelines.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties on Rajiv Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,900 per sq.ft, the stamp duty would be Rs 2,73,000.