Guideline Value for Rajagopal Chetty Street

Rajagopal Chetty Street guideline value

The current guideline value of Rajagopal Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Rajagopal Chetty Street has changed

Over the years, the guideline value of Rajagopal Chetty Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,210 per sq.ft. This figure increased dramatically to Rs 5,500 per sq.ft in 2012, marking a rise of 355%. However, it then decreased to Rs 3,685 per sq.ft in 2017, reflecting a drop of 33%. The value surged again to Rs 5,500 per sq.ft in 2023, followed by a further increase to Rs 6,000 per sq.ft in 2024, which is a rise of 9% from the previous year.

It is important to note that the register has no figures for Rajagopal Chetty Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 396%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Rajagopal Chetty Street's 2024 figure above this median.

• Rajagopalan Street Block 35: Rs 6,000 per sq.ft (2024)
• Rajabathar Street: Rs 4,100 per sq.ft (2024)
• Raghava Reddy Colony West Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony East Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 4th Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 3rd Street (AN): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopal Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. 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 precise calculations.

Which Sub Registrar Office covers Rajagopal Chetty Street?

The Sub Registrar Office that covers Rajagopal Chetty Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

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

When a property is sold, the buyer must ensure that the sale price is either equal to or greater than the guideline value to avoid any discrepancies during registration. This ensures that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Rajagopal Chetty Street?

The current guideline value of Rajagopal Chetty Street is Rs 6,000 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 1,210 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 396% over the years.

What is the land classification for Rajagopal Chetty Street?

Rajagopal Chetty Street is classified as Residential Class II Type - III, which indicates its suitability for residential development.

What are the other streets in Kodambakkam with similar guideline values?

Other streets in Kodambakkam include Rajagopalan Street Block 35 and Rajabathar Street, with guideline values of Rs 6,000 and Rs 4,100 per sq.ft respectively for 2024.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO using the provided link.