Guideline Value for Rajivgandhi Nagar 8th Street

Rajivgandhi Nagar 8th Street guideline value

The current guideline value for Rajivgandhi Nagar 8th 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 8th Street has changed

The guideline value for Rajivgandhi Nagar 8th Street has seen several revisions over the years. The earliest recorded revision is from 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 surged by 100%, reaching Rs 806 per sq.ft. The most recent revision in 2024 has maintained this value at Rs 806 per sq.ft, reflecting no change from the previous year.

The register does not contain 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

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 for the area is Rs 870 per sq.ft, placing Rajivgandhi Nagar 8th Street's 2024 figure below that median.

• Rajivgandhi Nagar 7th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 6th 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 8th 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, while the registration fee at 2% would be Rs 16,120, bringing the total 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.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Rajivgandhi Nagar 8th Street?

The Sub Registrar Office that covers Rajivgandhi Nagar 8th Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a reference point for property transactions in Kovilpathagai. It is utilized during the registration process, ensuring that the property is valued appropriately according to government standards.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. This ensures that all transactions comply with legal requirements and reflect the official valuation of the property.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar 8th Street?

The current guideline value of Rajivgandhi Nagar 8th 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, with a notable increase of 100% from 2017 to 2023.

What is the land classification for Rajivgandhi Nagar 8th Street?

Rajivgandhi Nagar 8th Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Rajivgandhi Nagar 8th Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,06,000, the stamp duty would be Rs 56,420 at a rate of 7%.