Guideline Value for RAJAGOPAL STREET

Rajagopal Street guideline value

The current guideline value of Rajagopal Street in Ramapuram village, under the Chennai South Joint II SRO, is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is classified under Residential Class II Type - I.

How the guideline value of Rajagopal Street has changed

The guideline value for Rajagopal Street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,800 per sq.ft in 2012. However, this figure was revised down to Rs 1,876 per sq.ft in 2017, marking a decrease of 33%. From 2017 to 2023, the value rose sharply by 49% to reach Rs 2,800 per sq.ft. The latest revision in 2024 set the guideline value at Rs 3,100 per sq.ft, representing an 11% increase from the previous year.

It's important to note that there are no figures available for Rajagopal Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 244%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which aligns with the current guideline value of Rajagopal Street.

• Raghavendra Nagar: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 2nd Lane: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 1st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajagopal Street?

The Sub Registrar Office that covers Rajagopal Street is the Chennai South Joint II 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 Ramapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for ensuring compliance with local regulations and for calculating the total costs involved in property transactions. It helps in providing a clear framework for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Rajagopal Street?

The current guideline value of Rajagopal Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 244% over the years.

What are the stamp duty and registration fees for property in Rajagopal Street?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers Rajagopal Street?

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

What is the land classification of Rajagopal Street?

Rajagopal Street is classified under Residential Class II Type - I, indicating its designation for residential use within the locality.