Guideline Value for Mel Ragunathapuram

Mel Ragunathapuram guideline value

The current guideline value of Mel Ragunathapuram is Rs 1,980 per sq.ft, effective from 1 July 2024. This village is part of the Kunrathur SRO and is classified as Residential Special Type - III.

How the guideline value of Mel Ragunathapuram has changed

The guideline value for Mel Ragunathapuram has seen several revisions over the years. In 2017, the guideline value was Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figure for Mel Ragunathapuram for the years 2002, 2003, 2007, and 2012. The increase from 2017 to 2023 was significant at 49%, reflecting changes in the area's valuation over that period.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 1,870 per sq.ft, placing Mel Ragunathapuram's 2024 figure above that median.

• Melma Nagar: Rs 2,200 per sq.ft (2024)
• Meera Nagar: Rs 2,090 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,430 per sq.ft (2024)
• Mettu Street IInd Street: Rs 1,980 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 per sq.ft (2024)
• Masilamani Nagar Annexe: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Mel Ragunathapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Mel Ragunathapuram?

The Sub Registrar Office that covers Mel Ragunathapuram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process of property transactions in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that both the buyer and seller are aware of the financial implications of their transaction. This value is essential for maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Mel Ragunathapuram?

The current guideline value of Mel Ragunathapuram is Rs 1,980 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 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Mel Ragunathapuram?

The registration office for Mel Ragunathapuram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 1,78,200.

What are the guideline values of other streets in Mangadu -A?

Other streets in Mangadu -A have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft. For instance, Melma Nagar has a guideline value of Rs 2,200 per sq.ft in 2024.