Guideline Value for Rajivgandhi Nagar 5th Street

Rajivgandhi Nagar 5th Street guideline value

The current guideline value of Rajivgandhi Nagar 5th Street is Rs 806 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Rajivgandhi Nagar 5th Street has changed

The guideline value for Rajivgandhi Nagar 5th Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017. Following this, the value saw a significant increase of 100% to Rs 806 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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 with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Rajivgandhi Nagar 5th Street's 2024 figure below the median.

• Rajivgandhi Nagar 6th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 4th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 7th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 8th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 3rd Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 2nd Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Nagar 5th 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, bringing the total to Rs 72,540. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajivgandhi Nagar 5th Street?

The Sub Registrar Office that covers Rajivgandhi Nagar 5th 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 plays a crucial role during the registration of property transactions in Kovilpathagai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value is used to determine the official value of the property for registration purposes. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar 5th Street?

The current guideline value of Rajivgandhi Nagar 5th 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 remained the same in 2024.

What is the land classification of Rajivgandhi Nagar 5th Street?

Rajivgandhi Nagar 5th Street falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for Rajivgandhi Nagar 5th Street?

The Sub Registrar Office for Rajivgandhi Nagar 5th Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a reference for calculating stamp duty and registration fees during property transactions. It ensures that these costs are based on a standardized value set by the government.