Guideline Value for RAJARAM METHA NAGAR - SARANGAPANI STREET

Rajaram Metha Nagar - Sarangapani Street guideline value

The current guideline value for Rajaram Metha Nagar - Sarangapani 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 - Sarangapani Street has changed

The guideline value for Rajaram Metha Nagar - Sarangapani Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,750 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 243%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, and further rose to Rs 6,600 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 277%. It is important to note that there are no figures available 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 for these streets is Rs 6,600 per sq.ft, which is equal to the current value for Rajaram Metha Nagar - Sarangapani Street.

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

Stamp duty and registration fee for property in Rajaram Metha Nagar - Sarangapani 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, making the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more specific calculations.

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

The Sub Registrar Office that covers Rajaram Metha Nagar - Sarangapani Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vadaagaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to assess the value of the property. This helps in maintaining transparency and standardization in property transactions across the region.

Frequently asked questions

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

The current guideline value for Rajaram Metha Nagar - Sarangapani 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 increased from Rs 1,750 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 277% over the years.

What is the land classification for this street?

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

Where can I find the Sub Registrar Office for this area?

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

How is the 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 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 4,62,000.