Guideline Value for RajivGandhi 2nd Street

RajivGandhi 2nd Street guideline value

The current guideline value of RajivGandhi 2nd Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class IV Type - II.

How the guideline value of RajivGandhi 2nd Street has changed

The guideline value for RajivGandhi 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 250 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, the value then decreased to Rs 469 per sq.ft in 2017, a decline of 33%. The most recent revisions saw the value rise to Rs 800 per sq.ft in 2023 and then to Rs 850 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 71%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 240%. It is important to note that there are no recorded figures for this street in the revisions of 2002 and 2003.

Guideline values in Chembakkam

In Chembakkam village, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for RajivGandhi 2nd Street is below this median.

• Rajiv Gandhi 3rd Cross Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi 2nd Cross Street: Rs 850 per sq.ft (2024)
• RajivGandhi 3rd Street: Rs 850 per sq.ft (2024)
• RajivGandhi 1st Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi 1st Cross Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in RajivGandhi 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, making the total cost for these fees Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers RajivGandhi 2nd Street?

The Sub Registrar Office that covers RajivGandhi 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. The registration authorities utilize this value to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized assessment of property values in the area.

When engaging in a property transaction, it is essential to be aware of the guideline value, as it may influence negotiations and final sale prices. Buyers and sellers should ensure that they are informed about the current guideline values to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of RajivGandhi 2nd Street?

The current guideline value of RajivGandhi 2nd Street is Rs 850 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 850 per sq.ft in 2024, reflecting an overall increase of 240% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property of 1,000 sq.ft, the total guideline value is Rs 8,50,000. The stamp duty would be Rs 59,500, and the registration fee would be Rs 17,000, totaling Rs 76,500.

Which Sub Registrar Office handles registrations for RajivGandhi 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for RajivGandhi 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of RajivGandhi 2nd Street?

RajivGandhi 2nd Street is classified as Residential Class IV Type - II.