Guideline Value for Rajiv Town

Rajiv Town guideline value

The current guideline value of Rajiv Town, located in Eraiyur village under the Sriperumpudur SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land is classified as Residential Class II Type - I.

How the guideline value of Rajiv Town has changed

The guideline value for Rajiv Town has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. In the 2017 revision, the value was Rs 134 per sq.ft, marking a significant decrease from the previous value in 2012. The 2023 revision also maintained the value at Rs 200 per sq.ft, showing no change from the prior year.

From 2017 to 2023, there was a notable increase of 49%. However, the overall change from 2012 to 2024 shows no increase, as the value in 2024 returns to Rs 200 per sq.ft, the same as in 2012. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Rajiv Town's 2024 figure at this median. Below are other streets in Eraiyur with their respective guideline values:

• Saibaba Nagar: Rs 200 per sq.ft (2024)
• Petharya Nagar: Rs 200 per sq.ft (2024)
• Pavalavannan @ Vidhaya Nagar: Rs 200 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Ensamy Nagar: Rs 350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajiv Town

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, while the registration fee is charged at 2%, amounting to Rs 4,000. Together, the total fees would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajiv Town?

The Rajiv Town area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is registered, the guideline value is used to assess the applicable duties. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two values will be considered for calculating the stamp duty.

Frequently asked questions

What is the current guideline value of Rajiv Town?

The current guideline value of Rajiv Town is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Rajiv Town?

Rajiv Town is classified as Residential Class II Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Rajiv Town?

The Sub Registrar Office covering Rajiv Town is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rajiv Town?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.