Guideline Value for Rajarajan Street

Rajarajan Street guideline value

The current guideline value of Rajarajan Street in Mudichur village, under the Padappai SRO, is Rs 3,630 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Rajarajan Street has changed

The guideline value for Rajarajan Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,300 per sq.ft. This figure then decreased to Rs 2,211 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,300 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 3,630 per sq.ft.

It is important to note that there are no recorded figures for Rajarajan Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mudichur

In Mudichur, there are a total of 135 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, making Rajarajan Street's 2024 figure of Rs 3,630 per sq.ft notably above that median.

• Ramanujam Street: Rs 1,210 per sq.ft (2024)
• Ramar Thottam: Rs 1,210 per sq.ft (2024)
• Ram Nagar: Rs 1,210 per sq.ft (2024)
• Prabha Nagar: Rs 1,760 per sq.ft (2024)
• Poonga Street: Rs 2,200 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty, charged at 7%, would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600. Therefore, the total cost for stamp duty and registration would be Rs 3,26,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajarajan Street?

The Sub Registrar Office that covers Rajarajan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mudichur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that the guideline value is a key factor in calculating the total costs involved in the registration process.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the correct amount is paid to the authorities. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Rajarajan Street?

The current guideline value of Rajarajan Street is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then back to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What are the other streets in Mudichur and their guideline values?

Other streets in Mudichur include Ramanujam Street, Ramar Thottam, Ram Nagar, Prabha Nagar, Poonga Street, and Ranga Nagar, with guideline values ranging from Rs 1,210 to Rs 2,200 per sq.ft in 2024.

What is the registration fee for property in Rajarajan Street?

The registration fee for property in Rajarajan Street is calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 72,600.

Where can I find the Sub Registrar Office for Rajarajan Street?

The Sub Registrar Office for Rajarajan Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find more information about your SRO online.