Guideline Value for Guru Ragavendra Nagar ( Ward No.11 )

Guru Ragavendra Nagar ( Ward No.11 ) guideline value

The current guideline value of Guru Ragavendra Nagar ( Ward No.11 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Guru Ragavendra Nagar ( Ward No.11 ) has changed

The guideline value for Guru Ragavendra Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, indicating that the guideline value of Guru Ragavendra Nagar is below this median.

• Guru Raghavendra Samy Colony: Rs 1,300 per sq.ft (2024)
• Gurudev Nagar: Rs 1,300 per sq.ft (2024)
• Gowri Nagar,Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Gowri Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Gowri Nagar Main Road ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Gowri Nagar: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Guru Ragavendra Nagar ( Ward No.11 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guru Ragavendra Nagar ( Ward No.11 )?

The Sub Registrar Office covering Guru Ragavendra Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process.

When buying or selling property, the guideline value helps ensure compliance with legal requirements and provides a transparent basis for calculating taxes associated with the transaction.

Frequently asked questions

What is the current guideline value of Guru Ragavendra Nagar?

The current guideline value of Guru Ragavendra Nagar ( Ward No.11 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, reflecting a total increase of 62% over this period.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value of Guru Ragavendra Nagar.

What are the stamp duty rates for property in this area?

The stamp duty for property transactions in Guru Ragavendra Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.