Guideline Value for Rajagopal Street / Muthamzih Nagar

Rajagopal Street / Muthamzih Nagar guideline value

The current guideline value of Rajagopal Street / Muthamzih Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - II.

How the guideline value of Rajagopal Street / Muthamzih Nagar has changed

The guideline value for Rajagopal Street / Muthamzih Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 242 per sq.ft. This increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value continued to rise to Rs 360 per sq.ft in 2007, which was a 31% increase from the previous revision. Following that, the value surged to Rs 1,507 per sq.ft in 2017, reflecting a remarkable 319% increase. In 2023, the guideline value further increased to Rs 2,250 per sq.ft, a 49% rise from 2017. The most recent revision in 2024 set the current value at Rs 2,475 per sq.ft, which is a 10% increase from the previous year. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, and Rajagopal Street / Muthamzih Nagar's 2024 figure is above this median.

• Rajaji Square: Rs 1,760 per sq.ft (2024)
• Rajaji Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Street / Hemanathapillai Avenue: Rs 1,760 per sq.ft (2024)
• Rajaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajalingam Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopal Street / Muthamzih Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, together totaling Rs 2,22,750. It is important to 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 information.

Which Sub Registrar Office covers Rajagopal Street / Muthamzih Nagar?

The Pammal Sub Registrar Office covers Rajagopal Street / Muthamzih Nagar. The office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers should be aware that the guideline value directly influences the costs associated with property transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajagopal Street / Muthamzih Nagar?

The current guideline value of Rajagopal Street / Muthamzih Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, showing an overall increase of 923%. Significant jumps occurred between 2007 and 2017, and 2017 to 2023.

What is the median guideline value in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft. Rajagopal Street / Muthamzih Nagar's 2024 guideline value is above this median.

What are the stamp duty rates applicable in Pammal?

The stamp duty rate in Pammal is 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information about your SRO through the provided link.