Guideline Value for Rajivgandhi Nagar 3rd Street

Rajivgandhi Nagar 3rd Street guideline value

The current guideline value of Rajivgandhi Nagar 3rd Street is Rs 806 per sq.ft. This street is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajivgandhi Nagar 3rd Street has changed

The guideline value for Rajivgandhi Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 806 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 100%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 34%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 in this area is Rs 870 per sq.ft, meaning that the guideline value for Rajivgandhi Nagar 3rd Street is below this median.

• Rajivgandhi Nagar 2nd Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 4th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total 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, making the total fees together Rs 72,540. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Rajivgandhi Nagar 3rd Street?

The Sub Registrar Office that covers Rajivgandhi Nagar 3rd Street is the Ambattur Sub Registrar Office. The address is 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 is an essential factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar 3rd Street?

The current guideline value of Rajivgandhi Nagar 3rd 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 402 per sq.ft in 2017, then increased to Rs 806 per sq.ft in 2023 and remains the same in 2024. The overall change from 2012 to 2024 is an increase of 34%.

What is the classification of land in Rajivgandhi Nagar 3rd Street?

Rajivgandhi Nagar 3rd Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 72,540.

Which office handles registrations for Rajivgandhi Nagar 3rd Street?

The Ambattur Sub Registrar Office handles registrations for Rajivgandhi Nagar 3rd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai.