Guideline Value for RajivGandhi 3rd Street

RajivGandhi 3rd Street guideline value

The current guideline value of RajivGandhi 3rd 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 3rd Street has changed

Over the years, the guideline value of RajivGandhi 3rd Street has seen several revisions. The earliest available revision is from 2007, when the guideline value was Rs 250 per sq.ft. This increased to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023 and is now Rs 850 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 71%. The 2023 to 2024 revision saw a 6% increase. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 240%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing RajivGandhi 3rd Street below this median.

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

Stamp duty and registration fee for property in RajivGandhi 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, totaling Rs 76,500. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers RajivGandhi 3rd Street?

The Sub Registrar Office that covers RajivGandhi 3rd 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 critical factor in the registration of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded at an appropriate value. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of RajivGandhi 3rd Street?

The current guideline value of RajivGandhi 3rd 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, marking an overall increase of 240% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at 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 office handles property registrations for this street?

The Selaiyur Sub Registrar Office handles property registrations for RajivGandhi 3rd Street, located at No.36, Bharathmatha Salai, Chennai - 600 073.

What is the median guideline value in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, with RajivGandhi 3rd Street being below this median at Rs 850 per sq.ft.