Guideline Value for RAJARAM METHA NAGAR - AVVAIYAR STREET

Rajaram Metha Nagar - Avvaiyar Street guideline value

The current guideline value of Rajaram Metha Nagar - Avvaiyar Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Rajaram Metha Nagar - Avvaiyar Street has changed

Over the years, the guideline value for Rajaram Metha Nagar - Avvaiyar Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,350 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a substantial rise of 344%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The 2017 revision saw a notable increase to Rs 6,000 per sq.ft in 2023, which then rose by 10% to reach the current value of Rs 6,600 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 389%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 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 guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Rajaram Metha Nagar - Avvaiyar Street.

• Rajaram Metha Nagar - Amman Koil Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Bharathiyar Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Kakkan Street: Rs 3,300 per sq.ft (2024)
• Rajaram Metha Nagar - Kambar Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar Main Road: Rs 7,700 per sq.ft (2024)
• Rajaram Metha Nagar - Malligai Garden Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaram Metha Nagar - Avvaiyar 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, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. Please 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 Rajaram Metha Nagar - Avvaiyar Street?

The Sub Registrar Office that covers Rajaram Metha Nagar - Avvaiyar 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Vadaagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to accurately calculate the associated fees.

During the registration process, the guideline value is used to assess stamp duty and registration fees. It is essential for both parties involved in a transaction to understand the guideline value to avoid any discrepancies during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Rajaram Metha Nagar - Avvaiyar Street?

The current guideline value of Rajaram Metha Nagar - Avvaiyar Street is Rs 6,600 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 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 389% over the years.

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

Other streets in Vadaagaram with similar guideline values include Rajaram Metha Nagar - Amman Koil Street, Rajaram Metha Nagar - Bharathiyar Street, Rajaram Metha Nagar - Kambar Street, and Rajaram Metha Nagar - Malligai Garden Street, all valued at Rs 6,600 per sq.ft in 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or the sale price, whichever is higher. This rate is applicable during the registration process.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles all registrations for properties in the Rajaram Metha Nagar area.