Guideline Value for Rajiv Street

Rajiv Street guideline value

The current guideline value of Rajiv Street in Mannivakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Rajiv Street has changed

The guideline value of Rajiv Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a 300% increase. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose to Rs 1,000 per sq.ft in the 2023 revision, and finally, it reached Rs 1,100 per sq.ft in the 2024 revision, reflecting 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 revision, the guideline value has increased by 340%. The changes between the revisions highlight the fluctuations in the value of Rajiv Street over the years, with the most recent increase indicating a stabilization in the guideline value.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that have a guideline value for 2024, ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in this village is Rs 1,215 per sq.ft, which means Rajiv Street's current value is below this median.

• Ramakrishna Nagar: Rs 1,110 per sq.ft (2024)
• Ramakrishna Salai: Rs 1,540 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Ram Nagar Extn: Rs 1,325 per sq.ft (2024)
• Sai Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 more details.

Which Sub Registrar Office covers Rajiv Street?

The Sub Registrar Office that covers Rajiv Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mannivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. This value ensures that properties are not undervalued during registration, providing a fair basis for taxation and legal documentation.

Frequently asked questions

What is the current guideline value of Rajiv Street?

The current guideline value of Rajiv Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, which is higher than the current value of Rajiv Street.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000.