Guideline Value for Rajagopal Street

Rajagopal Street guideline value

The current guideline value of Rajagopal Street in Madipakkam-1 village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Rajagopal Street has changed

The guideline value for Rajagopal Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was a significant increase from the previous revisions that have no figures available for the years 2002, 2003, 2007, and 2012. By the 2023 revision, the value rose to Rs 2,000 per sq.ft, marking a 49% increase from 2017. The most recent revision in 2024 saw the guideline value increase by 10% to Rs 2,200 per sq.ft.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This reflects the changes in valuation over the years, highlighting the growth in the guideline value of Rajagopal Street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO 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's 2024 guideline value of Rs 2,200 per sq.ft is below this median.

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

Stamp duty and registration fee for property in Rajagopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers Rajagopal Street?

The Sub Registrar Office that covers Rajagopal Street 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a value recognized by the authorities.

When registering a property, buyers and sellers must consider the guideline value as it influences the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is fairly assessed.

Frequently asked questions

What is the current guideline value of Rajagopal Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% overall. The most recent revision in 2024 saw a 10% increase from the previous year.

What is the land classification for Rajagopal Street?

Rajagopal Street is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty rates for properties in Rajagopal Street?

The stamp duty for properties in Rajagopal Street is set at 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.