Guideline Value for RAJARAM METHA NAGAR - VANILARASU STREET

Rajaram Metha Nagar - Vanilarasu Street guideline value

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

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

In the 2012 revision, the guideline value was set at Rs 6,000 per sq.ft. This figure then decreased to Rs 4,020 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value saw a significant increase to Rs 6,000 per sq.ft in the 2023 revision, which was a 49% rise from the 2017 figure. The most recent revision in 2024 has further increased the guideline value to Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vadaagaram

Vadaagaram village has a total of 78 streets under the Kodambakkam SRO, with guideline values 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 2024 figure for Rajaram Metha Nagar - Vanilarasu Street.

• Rajaram Metha Nagar - Singarayan Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Sathasivam Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Sarangapani Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Rajeswari 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)

Stamp duty and registration fee for property in Rajaram Metha Nagar - Vanilarasu 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. Therefore, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Rajaram Metha Nagar - Vanilarasu 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 price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

Additionally, the guideline value impacts the amount of stamp duty and registration fees payable during the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Rajaram Metha Nagar - Vanilarasu 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 seen several changes, with the most recent increase from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024, a rise of 10%. The value also increased from Rs 4,020 per sq.ft in 2017 to Rs 6,000 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Rajaram Metha Nagar - Vanilarasu Street?

Rajaram Metha Nagar - Vanilarasu Street falls under the Residential Special Type - II land classification, which designates it for residential purposes.

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 property registrations for the area.

How is stamp duty calculated for properties in Vadaagaram?

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