Guideline Value for RAGHURAM STREET

Raghuram Street guideline value

The current guideline value of Raghuram Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Raghuram Street has changed

Over the years, the guideline value of Raghuram Street has undergone several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 496 per sq.ft. This value increased to Rs 900 per sq.ft in 2003, marking an increase of 81%. The next revision in 2007 saw a significant jump to Rs 1,250 per sq.ft, reflecting a 39% increase. In 2012, the value rose to Rs 5,500 per sq.ft, which represented a substantial increase of 340% from the previous figure. However, in 2017, it decreased to Rs 3,685 per sq.ft, showing a decline of 33%. The guideline value then increased to Rs 5,500 per sq.ft in 2023, and finally reached Rs 6,000 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1110%. There are no figures available for the years not mentioned in this register.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is equal to the current guideline value of Raghuram Street.

• Raghuraman Street: Rs 6,000 per sq.ft (2024)
• Raghavan Street: Rs 5,500 per sq.ft (2024)
• Rajagopal Street: Rs 6,000 per sq.ft (2024)
• Quide Millath I St Street: Rs 3,800 per sq.ft (2024)
• Quide Millath II Nd Street: Rs 3,300 per sq.ft (2024)
• Quide Millath III Rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Raghuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty, charged at 7%, would amount to Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000, making the total fees together Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raghuram Street?

The Sub Registrar Office that covers Raghuram Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the costs involved. This value helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Raghuram Street?

The current guideline value of Raghuram Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 496 per sq.ft to Rs 6,000 per sq.ft in 2024, reflecting a total increase of 1110% over this period.

What are the other streets in Arumbakkam with their guideline values?

Other streets in Arumbakkam include Raghuraman Street at Rs 6,000 per sq.ft, Raghavan Street at Rs 5,500 per sq.ft, and Rajagopal Street at Rs 6,000 per sq.ft, among others.

How is stamp duty calculated for properties in Raghuram Street?

Stamp duty for properties in Raghuram Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 4,20,000.

Where is the Sub Registrar Office for Raghuram Street located?

The Sub Registrar Office covering Raghuram Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.