Guideline Value for RAGAVAN STREET

Ragavan Street guideline value

The current guideline value of Ragavan Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class II Type - II.

How the guideline value of Ragavan Street has changed

The guideline value for Ragavan Street has seen several revisions over the years. In 2003, the value was Rs 369 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,500 per sq.ft in 2012, but then it dropped to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,800 per sq.ft in 2024. Notably, there is no figure available for the year 2002 for this street.

Between the revisions, the changes are as follows: from 2003 to 2007, there was an increase of +90%; from 2007 to 2012, a decrease of -33%; from 2012 to 2017, a decrease of -33%; from 2017 to 2023, an increase of +49%; and from 2023 to 2024, an increase of +9%. Overall, from 2003 to 2024, the guideline value has increased by +930%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which means Ragavan Street's current guideline value is above this median.

• Puzhal Sivagnanam Street: Rs 5,400 per sq.ft (2024)
• Puzhal Murugesan Street: Rs 5,400 per sq.ft (2024)
• Rajabadar Street: Rs 3,800 per sq.ft (2024)
• Rajagopal Mudali Street: Rs 3,800 per sq.ft (2024)
• Pulianthope High Road(From B&C Mill To Pulianthope T.B Hospital): Rs 4,900 per sq.ft (2024)
• Rajaji Street (Ilango Nagar): Rs 3,800 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ragavan Street?

The Sub Registrar Office that covers Ragavan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Ragavan Street?

The current guideline value of Ragavan Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 369 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +930% over the years.

What is the land classification for Ragavan Street?

Ragavan Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office covering Ragavan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Ragavan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.