Guideline Value for Rajivgandhi Nagar 7th Street

Rajivgandhi Nagar 7th Street guideline value

The current guideline value of Rajivgandhi Nagar 7th Street is Rs 806 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village, under the Ambattur SRO. It falls under the Residential Class III Type - I land classification.

How the guideline value of Rajivgandhi Nagar 7th Street has changed

The guideline value for Rajivgandhi Nagar 7th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline 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, there was a significant increase of 100%, bringing the value to Rs 806 per sq.ft. The value remained the same at Rs 806 per sq.ft from 2023 to 2024, indicating no change during this period.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 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, which means Rajivgandhi Nagar 7th Street's 2024 figure is below that median.

• Rajivgandhi Nagar 6th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 8th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 5th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 4th 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 7th 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 fees to Rs 72,540. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajivgandhi Nagar 7th Street?

The Sub Registrar Office that covers Rajivgandhi Nagar 7th 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 is a crucial factor during property transactions in Kovilpathagai. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value helps determine the official valuation of the property. This valuation is used to assess the applicable taxes and fees, ensuring that both parties are informed of their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar 7th Street?

The current guideline value of Rajivgandhi Nagar 7th 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 for Rajivgandhi Nagar 7th Street?

Rajivgandhi Nagar 7th Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for a property in Rajivgandhi Nagar 7th Street?

For a property valued at Rs 8,06,000, the stamp duty would be Rs 56,420 and the registration fee would be Rs 16,120, totaling Rs 72,540.

Which office should I contact for registration in Rajivgandhi Nagar 7th Street?

The Ambattur Sub Registrar Office is responsible for registrations in Rajivgandhi Nagar 7th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.