Guideline Value for RajaGopal Naicken Street

RajaGopal Naicken Street guideline value

The current guideline value of RajaGopal Naicken Street is Rs 2,600 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Class III Type - III.

How the guideline value of RajaGopal Naicken Street has changed

The guideline value for RajaGopal Naicken Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012, marking a 243% rise. However, in 2017, it dropped to Rs 1,608 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 2,400 per sq.ft in 2023, an increase of 49% from the previous revision. The most recent revision in 2024 set the value at Rs 2,600 per sq.ft, representing an 8% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 271%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the current guideline value of RajaGopal Naicken Street below that median.

• RajaGopal Lane: Rs 2,600 per sq.ft (2024)
• Pumping Station Road: Rs 3,800 per sq.ft (2024)
• Rex Street: Rs 2,500 per sq.ft (2024)
• Sadasiva Pillai Lane / Street: Rs 4,900 per sq.ft (2024)
• Sadasiva Pillai Street: Rs 4,400 per sq.ft (2024)
• Pantheon Road: Rs 18,100 per sq.ft (2024)

Stamp duty and registration fee for property in RajaGopal Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,600 per sq.ft, the total guideline value would be Rs 26,00,000. The stamp duty at 7% would amount to Rs 1,82,000, and the registration fee at 2% would be Rs 52,000, totaling Rs 2,34,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers RajaGopal Naicken Street?

The Sub Registrar Office that covers RajaGopal Naicken Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chindadripet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of RajaGopal Naicken Street?

The current guideline value of RajaGopal Naicken Street is Rs 2,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,600 per sq.ft in 2024, showing an overall increase of 271% over the years.

What are the stamp duty and registration fees for property in RajaGopal Naicken Street?

For a property valued at Rs 26,00,000, the stamp duty would be Rs 1,82,000, and the registration fee would be Rs 52,000, totaling Rs 2,34,000.

Which office handles registrations for RajaGopal Naicken Street?

The Periamet Sub Registrar Office handles registrations for RajaGopal Naicken Street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register and is updated periodically to reflect changes in the property market.