Guideline Value for M.P. Rajagopalan Street

M.P. Rajagopalan Street guideline value

The current guideline value of M.P. Rajagopalan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of M.P. Rajagopalan Street has changed

The guideline value for M.P. Rajagopalan Street has seen a revision in recent years. The 2023 revision set the value at Rs 2,000 per sq.ft, while the 2024 revision increased this to Rs 2,200 per sq.ft, marking a 10% increase. Prior to 2023, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has risen from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The absence of figures in the earlier revisions indicates that there have been no recorded changes for M.P. Rajagopalan Street in those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of M.P. Rajagopalan Street is below this median.

• Moorthy Street: Rs 1,650 per sq.ft (2024)
• Murugan Street: Rs 2,750 per sq.ft (2024)
• M.K.N. Road: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.P. Rajagopalan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.P. Rajagopalan Street?

The Sub Registrar Office that covers M.P. Rajagopalan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing rates in the area. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of M.P. Rajagopalan Street?

The current guideline value of M.P. Rajagopalan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

What is the classification of M.P. Rajagopalan Street?

M.P. Rajagopalan Street is classified as Residential Class II Type - I.

Where can I find the registration office for M.P. Rajagopalan Street?

The registration office for M.P. Rajagopalan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in M.P. Rajagopalan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.