Guideline Value for MCB RAGAS PHASE-II

Mcb Ragas Phase-II guideline value

The current guideline value of Mcb Ragas Phase-II in Ottankaranai village is Rs 200 per sq.ft, effective from the 2024 revision. This property falls under the jurisdiction of the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Mcb Ragas Phase-II has changed

Over the years, the guideline value for Mcb Ragas Phase-II has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it also recorded Rs 200 per sq.ft. The 2017 revision marked a significant increase to Rs 134 per sq.ft, reflecting a 49% rise from the previous figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but overall, the guideline value from 2012 to 2024 has remained stable at Rs 200 per sq.ft. The latest revision in 2024 maintains the same rate as the previous year, indicating no change from 2023 to 2024.

Guideline values in Ottankaranai

In Ottankaranai, there are eight streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 150 per sq.ft. Mcb Ragas Phase-II's 2024 figure is above this median, indicating a higher valuation compared to other streets in the village.

• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Erikarai Street: Rs 100 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Bajanai Koil 2nd Cross Street: Rs 100 per sq.ft (2024)
• Bajanai Koil 1st Cross Street: Rs 100 per sq.ft (2024)
• Thai Avenue: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mcb Ragas Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mcb Ragas Phase-II?

The Mcb Ragas Phase-II falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ottankaranai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and reflects the appropriate financial commitments of both parties.

Frequently asked questions

What is the current guideline value of Mcb Ragas Phase-II?

The current guideline value of Mcb Ragas Phase-II is Rs 200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a significant increase from Rs 134 per sq.ft in 2017. There was no change from 2023 to 2024.

What is the land classification of Mcb Ragas Phase-II?

Mcb Ragas Phase-II is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Mcb Ragas Phase-II?

The registration office covering Mcb Ragas Phase-II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ottankaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.