Guideline Value for Rajivgandhi Nagar 2nd Street

Rajivgandhi Nagar 2nd Street guideline value

The current guideline value of Rajivgandhi Nagar 2nd 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 2nd Street has changed

The guideline value for Rajivgandhi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, when it 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 rise of 100%, reaching Rs 806 per sq.ft, which remained unchanged in the 2024 revision.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the current 2024 value, there has been an increase of 34%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this area is Rs 870 per sq.ft, placing Rajivgandhi Nagar 2nd Street's current value below this median.

• Rajivgandhi Nagar 3rd Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 1st 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 2nd Street

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

The Sub Registrar Office that covers Rajivgandhi Nagar 2nd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Kovilpathagai. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar 2nd Street?

The current guideline value of Rajivgandhi Nagar 2nd 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 increased from Rs 600 per sq.ft in 2012 to Rs 806 per sq.ft in 2024, reflecting an overall increase of 34%. The value remained unchanged from 2023 to 2024.

What is the stamp duty rate for properties in Rajivgandhi Nagar 2nd Street?

The stamp duty rate for properties in Rajivgandhi Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rajivgandhi Nagar 2nd Street located?

The Sub Registrar Office for Rajivgandhi Nagar 2nd Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Rajivgandhi Nagar 2nd Street?

The land classification for Rajivgandhi Nagar 2nd Street is Residential Class III Type - I.