Guideline Value for Rajivgandhi Nagar

Rajivgandhi Nagar guideline value

The current guideline value of Rajivgandhi Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rajivgandhi Nagar has changed

The guideline value of Rajivgandhi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 130 per sq.ft, which increased to Rs 200 per sq.ft in 2012. However, it decreased to Rs 134 per sq.ft in 2017. The value then rose significantly to Rs 200 per sq.ft in 2023, and currently stands at Rs 210 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw a further increase of 5%. Overall, from 2007 to 2024, the guideline value has risen by 62%.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, making Rajivgandhi Nagar's current value below this median.

• Rajiv Gandhi Street: Rs 210 per sq.ft (2024)
• Rajan Nagar: Rs 300 per sq.ft (2024)
• Ramanan Nagar: Rs 210 per sq.ft (2024)
• Rajaji Street: Rs 150 per sq.ft (2024)
• Royal Homes: Rs 300 per sq.ft (2024)
• Prime City: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Rajivgandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, resulting in a total of Rs 18,900. 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 more details.

Which Sub Registrar Office covers Rajivgandhi Nagar?

The Sub Registrar Office that covers Rajivgandhi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nemili. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees are aligned with the current market conditions as reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar?

The current guideline value of Rajivgandhi Nagar is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 130 per sq.ft in 2007 to Rs 210 per sq.ft in 2024, reflecting an overall increase of 62% over the years.

What is the classification of land in Rajivgandhi Nagar?

Rajivgandhi Nagar is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the stamp duty rates for properties in Rajivgandhi Nagar?

The stamp duty for properties in Rajivgandhi Nagar is charged at 7% of the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Rajivgandhi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.