Guideline Value for RAGAVENDERA NAGAR (VIVEKANANDA NAGAR)

Ragavendera Nagar (Vivekananda Nagar) guideline value

The current guideline value of Ragavendera Nagar (Vivekananda Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ragavendera Nagar (Vivekananda Nagar) has changed

The guideline value for Ragavendera Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 375 per sq.ft, which significantly increased to Rs 2,300 per sq.ft in the 2012 revision. This marked an increase of 513%. The value remained unchanged at Rs 2,300 per sq.ft in the 2023 revision, before rising to Rs 2,500 per sq.ft in the 2024 revision, reflecting a 9% increase.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 567%. There are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Ragavendera Nagar.

• Ragavendra Nagar Extension: Rs 2,500 per sq.ft (2024)
• Pudu Street (Thathankuppam): Rs 1,600 per sq.ft (2024)
• Pudu Street (Kallikuppam): Rs 2,100 per sq.ft (2024)
• Pothiyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Raja Street: Rs 1,600 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 1st STREET: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendera Nagar (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. Please note that 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 details.

Which Sub Registrar Office covers Ragavendera Nagar (Vivekananda Nagar)?

The Villivakkam Sub Registrar Office covers Ragavendera Nagar (Vivekananda Nagar). The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which a property can be registered. This value is crucial for legal documentation and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ragavendera Nagar?

The current guideline value of Ragavendera Nagar (Vivekananda Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 567% over the years.

What is the land classification of Ragavendera Nagar?

Ragavendera Nagar is classified as Residential Class II Type - III, indicating its suitability for residential development.

Where can I find the registration office for Ragavendera Nagar?

The registration office for Ragavendera Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ragavendera Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.