Guideline Value for RAJAGOPALAN STREET

Rajagopalan Street guideline value

The current guideline value of Rajagopalan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajagopalan Street has changed

The guideline value for Rajagopalan Street has undergone several revisions over the years. In 2002, the value was Rs 589 per sq.ft, which increased to Rs 763 per sq.ft in 2003, marking a 30% rise. The value then saw a further increase of 44% to reach Rs 1,100 per sq.ft in 2007. By 2012, the value changed to Rs 4,000 per sq.ft, reflecting a significant increase of 264% from the previous revision. However, this value dropped by 33% to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a 10% increase to the current figure of Rs 4,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 647%. There are no figures available for the revisions between these years for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Rajagopalan Street.

• Pujangarao Street: Rs 5,500 per sq.ft (2024)
• Ramanujam Pillai Street: Rs 4,950 per sq.ft (2024)
• Ramapuram Ramasamy Street: Rs 4,950 per sq.ft (2024)
• Police Quarters Street: Rs 4,400 per sq.ft (2024)
• Police Lane: Rs 3,300 per sq.ft (2024)
• Rangabashyam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopalan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Rajagopalan Street?

The Sub Registrar Office covering Rajagopalan 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 Saidapet

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the duties, ensuring that the fees are based on a standardized value rather than varying sale prices. This helps maintain consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Rajagopalan Street?

The current guideline value of Rajagopalan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 589 per sq.ft in 2002 and reaching Rs 4,400 per sq.ft in 2024, which is an overall increase of 647%.

What is the stamp duty rate for properties in Rajagopalan Street?

The stamp duty rate for properties in Rajagopalan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rajagopalan Street located?

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

What is the land classification of Rajagopalan Street?

Rajagopalan Street is classified as Residential Class II Type - II, indicating its designation for residential use within the area.