Guideline Value for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension,

Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension, guideline value

The current guideline value for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension, has changed

The guideline value for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent 2024 revision has set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year’s figure.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension above this median.

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

Stamp duty and registration fee for property in Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension,

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension,?

The Sub Registrar Office that covers Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North 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 information.

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

The guideline value is a crucial factor during the registration process of property transactions in Madipakkam-1. It helps determine the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers comply with the legal requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. Buyers should be aware that the stamp duty is charged based on the higher value between the guideline value and the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension?

The current guideline value for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension is Rs 3,850 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, with a 49% increase from 2017 to 2023, and a further 10% increase from 2023 to 2024.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with the current value for Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value and the sale price.

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, and it covers Rajagopalapuram Extension, Sadasivam Nagar Ram Nagar North Extension.