Guideline Value for RAGAVAN COLONY

Ragavan Colony guideline value

The current guideline value of Ragavan Colony, located in Puliyur village under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Ragavan Colony has changed

The guideline value for Ragavan Colony has seen several revisions over the years. The 2012 revision set the rate at Rs 6,500 per sq.ft, which decreased to Rs 4,355 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 6,500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 7,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes are notable: from 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 9%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value across these streets is Rs 5,800 per sq.ft, placing Ragavan Colony's 2024 figure above this median.

• Radhakrishnan Nagar: Rs 5,000 per sq.ft (2024)
• Raghavan Street: Rs 5,000 per sq.ft (2024)
• Quida-E-Millath Street: Rs 3,800 per sq.ft (2024)
• Railway Border Road: Rs 8,800 per sq.ft (2024)
• Railway Border Street: Rs 8,200 per sq.ft (2024)
• Railway Station Road: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ragavan Colony?

The Sub Registrar Office that covers Ragavan Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Ragavan Colony?

The current guideline value of Ragavan Colony is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024, reflecting a 9% increase. From 2017 to 2023, it increased by 49% from Rs 4,355 per sq.ft.

What is the land classification of Ragavan Colony?

Ragavan Colony is classified as Residential Special Type - II. This classification is important for understanding the types of developments allowed in the area.

Where can I find the Sub Registrar Office for Ragavan Colony?

The Kodambakkam Sub Registrar Office covers Ragavan Colony, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Ragavan Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at a rate of 7%.