Guideline Value for RAJAGOPAL STREET

Rajagopal Street guideline value

The current guideline value of Rajagopal Street in Thiruvanmiyur village is Rs 12,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Rajagopal Street has changed

The guideline value for Rajagopal Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,324 per sq.ft. This increased to Rs 1,465 per sq.ft in 2003, reflecting an increase of 11%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, which was a significant increase of 23% from the previous year. The 2012 revision saw the guideline value at Rs 11,500 per sq.ft, marking a sharp increase of 539% from 2007. However, in 2017, the value dropped to Rs 7,705 per sq.ft, a decrease of 33% from 2012. The value then increased to Rs 11,500 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 12,650 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 855%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Rajagopal Street's 2024 figure above this median.

• Rajaji Nagar: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 1st Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 2nd Cross Street: Rs 8,250 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopal Street

For a 1,000 sq.ft plot at the current rate of Rs 12,650 per sq.ft, the guideline value amounts to Rs 1,26,50,000. The stamp duty at 7% would be Rs 8,85,500, and the registration fee at 2% would be Rs 2,53,000, totaling Rs 11,38,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Rajagopal Street?

The Sub Registrar Office that covers Rajagopal Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum price at which a property can be registered. This ensures that the transaction is conducted at a value that reflects the official assessment of the property’s worth.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately assess the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Rajagopal Street?

The current guideline value of Rajagopal Street is Rs 12,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,324 in 2002 to Rs 12,650 in 2024, reflecting an overall increase of 855% over this period.

What is the land classification for Rajagopal Street?

Rajagopal Street is classified as Residential Special Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Rajagopal Street?

The Sub Registrar Office for Rajagopal Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Rajagopal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,26,50,000, the stamp duty would be Rs 8,85,500 at 7%.