Guideline Value for Rajivgandhi Nagar 1st Street

Rajivgandhi Nagar 1st Street guideline value

The current guideline value of Rajivgandhi Nagar 1st Street is Rs 806 per sq.ft. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Rajivgandhi Nagar 1st Street has changed

The guideline value for Rajivgandhi Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 600 per sq.ft. This increased to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 100%, bringing it up to Rs 806 per sq.ft. The 2023 revision maintained the same value as the 2024 revision, which is also Rs 806 per sq.ft.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the village is Rs 870 per sq.ft, indicating that the guideline value for Rajivgandhi Nagar 1st Street is below this median.

• Rajivgandhi Nagar 2nd Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 3rd Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 4th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 5th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 6th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 7th Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 806 per sq.ft, the guideline value amounts to Rs 8,06,000. The stamp duty at 7% would be Rs 56,420, and the registration fee at 2% would be Rs 16,120, bringing the total to Rs 72,540. 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 Rajivgandhi Nagar 1st Street?

The Sub Registrar Office that covers Rajivgandhi Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar 1st Street?

The current guideline value of Rajivgandhi Nagar 1st Street is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 806 per sq.ft in 2024, reflecting an overall increase of 34% over the years.

What is the land classification for Rajivgandhi Nagar 1st Street?

Rajivgandhi Nagar 1st Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Rajivgandhi Nagar 1st Street?

The Sub Registrar Office for Rajivgandhi Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 806 per sq.ft would incur a total fee of Rs 72,540.