Guideline Value for RAJARAM METHA NAGAR MAIN ROAD

Rajaram Metha Nagar Main Road guideline value

The current guideline value for Rajaram Metha Nagar Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village under the Kodambakkam SRO, classified as Mixed Type - I land.

How the guideline value of Rajaram Metha Nagar Main Road has changed

The guideline value for Rajaram Metha Nagar Main Road has seen significant changes over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012. However, this figure dropped by 33% to Rs 4,690 per sq.ft in the 2017 revision. The subsequent revisions show a notable increase, with the value rising by 49% to Rs 7,000 per sq.ft in 2023, and then further increasing by 10% to the current rate of Rs 7,700 per sq.ft in 2024.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 285%.

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 value for these streets is Rs 6,600 per sq.ft, making the current figure for Rajaram Metha Nagar Main Road above this median.

• Rajaram Metha Nagar - Kambar Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Malligai Garden Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Kakkan Street: Rs 3,300 per sq.ft (2024)
• Rajaram Metha Nagar - Rajeswari Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Bharathiyar Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Sarangapani Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaram Metha Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total cost for stamp duty and registration would be Rs 6,93,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaram Metha Nagar Main Road?

The Sub Registrar Office that covers Rajaram Metha Nagar Main Road 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 plays a crucial role in property transactions within Vadaagaram. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. The guideline value serves as a reference point for both buyers and sellers, ensuring that the transaction is recorded at a fair value.

When buying or selling property, it is essential to be aware of the current guideline value as it directly impacts the financial obligations during registration. Buyers should ensure that they are prepared for the costs associated with stamp duty and registration fees based on the guideline value.

Frequently asked questions

What is the current guideline value for Rajaram Metha Nagar Main Road?

The current guideline value for Rajaram Metha Nagar Main Road is Rs 7,700 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 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 285% over this period.

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

Other streets in Vadaagaram include Rajaram Metha Nagar - Kambar Street, Malligai Garden Street, Kakkan Street, Rajeswari Street, Bharathiyar Street, and Sarangapani Street, with values ranging from Rs 3,300 to Rs 6,600 per sq.ft in 2024.

What fees are associated with property transactions in Rajaram Metha Nagar Main Road?

When transacting property, fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rajaram Metha Nagar Main Road?

The Sub Registrar Office for Rajaram Metha Nagar Main Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.