Guideline Value for RAJAGOPALAN STREET

Rajagopalan Street guideline value

The current guideline value of Rajagopalan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Rajagopalan Street has changed

The guideline value of Rajagopalan Street has seen significant changes over the years. In 2002, the value was Rs 804 per sq.ft, which increased to Rs 892 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,500 per sq.ft, reflecting a 68% increase. The value then jumped by 300% to Rs 6,000 per sq.ft in 2012. However, it decreased by 33% to Rs 4,020 per sq.ft in 2017. In 2023, the value increased to Rs 6,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 721%. Notably, there are no figures available for the revisions in years not listed in the register.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the 2024 figure for Rajagopalan Street.

• Railway Border 2 Street: Rs 6,600 per sq.ft (2024)
• Railway Border 1 Street: Rs 6,600 per sq.ft (2024)
• Rajaji Street(C.I.T.Nagar): Rs 7,700 per sq.ft (2024)
• Rajaji Street Western Side Of Reddy Kuppam Road Contd: Rs 6,600 per sq.ft (2024)
• Pushpavathi Ammal Street: Rs 8,800 per sq.ft (2024)
• Ramaiah Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopalan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and 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 that covers Rajagopalan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mambalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to price their properties competitively.

Frequently asked questions

What is the current guideline value of Rajagopalan Street?

The current guideline value of Rajagopalan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 721%.

What are the other streets in Mambalam with similar guideline values?

Other streets in Mambalam with a guideline value of Rs 6,600 per sq.ft include Railway Border 1 Street, Railway Border 2 Street, and Rajaji Street Western Side Of Reddy Kuppam Road Contd.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles the registration for Rajagopalan Street?

The Thiyagaraya nagar Sub Registrar Office handles the registration for Rajagopalan Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.