Guideline Value for Rajivgandhi Nagar Extn.,

Rajivgandhi Nagar Extn., guideline value

The current guideline value for Rajivgandhi Nagar Extn., located in Pozhichalur village under the Pammal SRO is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Rajivgandhi Nagar Extn., has changed

The guideline value for Rajivgandhi Nagar Extn. has seen several revisions over the years. The earliest recorded figure was Rs 300 per sq.ft in 2007, which increased to Rs 670 per sq.ft in 2017, marking a significant rise of 123%. Following this, the value was revised to Rs 1,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Rajivgandhi Nagar Extn. is currently below this median.

• Rajiv Gandhi Street: Rs 1,100 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 1,100 per sq.ft (2024)
• Rajeswari Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Rajeswari Nagar 1st Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Nagar Extn.,

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajivgandhi Nagar Extn.,?

The Sub Registrar Office that covers Rajivgandhi Nagar Extn. is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Pozhichalur, as it determines the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to assess the stamp duty, which is charged at a percentage of this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Rajivgandhi Nagar Extn.?

The current guideline value for Rajivgandhi Nagar Extn. is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in Rajivgandhi Nagar Extn.?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers this area?

The Pammal Sub Registrar Office covers Rajivgandhi Nagar Extn., located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Rajivgandhi Nagar Extn.?

Rajivgandhi Nagar Extn. falls under the Residential Class II Type - I land classification.