Guideline Value for RAJARAM METHA NAGAR - RAJESWARI STREET

Rajaram Metha Nagar - Rajeswari Street guideline value

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

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

The guideline value for Rajaram Metha Nagar - Rajeswari Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,130 per sq.ft. This value increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 431%. However, it dropped to Rs 4,020 per sq.ft in 2017, representing a decrease of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, followed by a further increase to Rs 6,600 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value rose by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 484%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is the same as the current value for Rajaram Metha Nagar - Rajeswari Street.

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

Stamp duty and registration fee for property in Rajaram Metha Nagar - Rajeswari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be 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 or the sale price.

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

Which Sub Registrar Office covers Rajaram Metha Nagar - Rajeswari Street?

The Sub Registrar Office that covers Rajaram Metha Nagar - Rajeswari 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 registering property transactions in Vadaagaram. It determines the minimum value at which properties are registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in establishing a fair price for the property, ensuring transparency and compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for Rajaram Metha Nagar - Rajeswari Street?

The current guideline value for Rajaram Metha Nagar - Rajeswari 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 1,130 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 484% over the years.

What is the land classification for this street?

The land classification for Rajaram Metha Nagar - Rajeswari Street is Residential Special Type - II.

Where can I find the registration office for this area?

The Kodambakkam Sub Registrar Office covers Rajaram Metha Nagar - Rajeswari Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.