Guideline Value for Rajagopal Street Extension

Rajagopal Street Extension guideline value

The current guideline value of Rajagopal Street Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rajagopal Street Extension has changed

The guideline value for Rajagopal Street Extension has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 saw the value rise to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Rajagopal Street Extension's 2024 guideline value is below this median.

• Rajagopal Street: Rs 2,200 per sq.ft (2024)
• Rajagopalapuram(Ram Nagar): Rs 3,850 per sq.ft (2024)
• Rajagopalapuram North Nagar Extension, Sadasivam Nagar: Rs 3,850 per sq.ft (2024)
• Rajagopalapuram Nagar North Extension: Rs 3,850 per sq.ft (2024)
• Rajaji Nagar: Rs 2,200 per sq.ft (2024)
• Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Rajagopal Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee, at 2%, would be Rs 44,000. Therefore, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajagopal Street Extension?

The Sub Registrar Office that covers Rajagopal Street Extension is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Rajagopal Street Extension?

The current guideline value of Rajagopal Street Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Rajagopal Street Extension?

The Velacheri Sub Registrar Office handles registrations for Rajagopal Street Extension, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Rajagopal Street Extension?

The land classification for Rajagopal Street Extension is Residential Class II Type - I.