Guideline Value for RAGAVAN STREET

Ragavan Street guideline value

The current guideline value of Ragavan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ragavan Street has changed

The guideline value for Ragavan Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for Ragavan Street for the years 2002, 2003, and 2007.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO with the 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, making Ragavan Street's 2024 figure below that median.

• Purusothaman Nagar 3rd Cross Street: Rs 2,160 per sq.ft (2024)
• Purusothaman Nagar 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Purusothaman Nagar 1st Cross Street: Rs 2,160 per sq.ft (2024)
• Pudu Street: Rs 2,200 per sq.ft (2024)
• Rajamanickam Nagar: Rs 5,500 per sq.ft (2024)
• Rajendra Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavan Street?

The Sub Registrar Office that covers Ragavan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is often considered the minimum value for property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ragavan Street?

The current guideline value of Ragavan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ragavan Street?

Ragavan Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for Ragavan Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Ragavan Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.