Guideline Value for Dr.RAGINI CITY

Dr.RAGINI CITY guideline value

The current guideline value of Dr.RAGINI CITY is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Madurabakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Dr.RAGINI CITY has changed

The guideline value for Dr.RAGINI CITY has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. The value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft from the 2024 revision, marking a 7% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. However, the 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Dr.RAGINI CITY.

• Dharani Nagar: Rs 1,600 per sq.ft (2024)
• Devi Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Green Castle Avenue: Rs 1,600 per sq.ft (2024)
• Arivalayam Street: Rs 1,600 per sq.ft (2024)
• Amogha: Rs 2,200 per sq.ft (2024)
• Kamatchi Nagr: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.RAGINI CITY

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Dr.RAGINI CITY?

The Sub Registrar Office that covers Dr.RAGINI CITY is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madurabakkam

The guideline value is an important factor in the registration process when buying or selling property in Madurabakkam. It serves as a benchmark for determining the minimum sale price of the property and is used to calculate stamp duty and registration fees.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr.RAGINI CITY?

The current guideline value of Dr.RAGINI CITY is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft in 2024.

What is the land classification of Dr.RAGINI CITY?

Dr.RAGINI CITY is classified as Residential Class I Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Dr.RAGINI CITY?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.