Guideline Value for Rajivgandhi Nagar

Rajivgandhi Nagar guideline value

The current guideline value for Rajivgandhi Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Rajivgandhi Nagar has changed

The guideline value for Rajivgandhi Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 126 per sq.ft, which increased to Rs 144 per sq.ft in 2003. Following this, there was a significant rise to Rs 350 per sq.ft in 2007, and then it surged dramatically to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft again in 2023, and finally reaching Rs 3,300 per sq.ft in 2024.

The changes between revisions show a substantial overall increase of 2,519% from 2002 to 2024. Specifically, from 2023 to 2024, there was a 10% increase, while the jump from 2017 to 2023 was 49%. The 2012 to 2017 revision saw a decrease of 33%, and the rise from 2007 to 2012 was a remarkable 757%. Additionally, the increase from 2003 to 2007 was 143%, and from 2002 to 2003, it was 14%.

Guideline values in Ernavur

In Ernavur, a total of 82 streets under the Thiruvottiyur SRO have a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Rajivgandhi Nagar is above this median.

• Rajiv Gandhi Nagar (Corner Plots): Rs 3,300 per sq.ft (2024)
• Ramakrishna Nagar/Cross Street/Sathiyamurthy Ngar: Rs 2,400 per sq.ft (2024)
• Ramanathapuram Nagar/Street: Rs 1,600 per sq.ft (2024)
• Puratchi Thalaivar Nagar: Rs 1,400 per sq.ft (2024)
• Poompukar Nagar: Rs 2,400 per sq.ft (2024)
• Rukmani Nagar: Rs 1,800 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ernavur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the local government. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajivgandhi Nagar?

The current guideline value of Rajivgandhi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 126 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 2,519%.

What is the land classification for Rajivgandhi Nagar?

Rajivgandhi Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.