Guideline Value for RAGAVENDRA COLONY MAIN ROAD

Ragavendra Colony Main Road guideline value

The current guideline value of Ragavendra Colony Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ragavendra Colony Main Road has changed

The guideline value for Ragavendra Colony Main Road has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. Subsequently, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are a total of 248 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Ragavendra Colony Main Road.

• Ragavendrhra Colony: Rs 1,650 per sq.ft (2024)
• Quaid-E-Millath Street: Rs 1,650 per sq.ft (2024)
• Puutu Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajaganapathy Nagar: Rs 1,320 per sq.ft (2024)
• Puthu Nagar Thiruvenkadam Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Colony Main Road

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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendra Colony Main Road?

The Ragavendra Colony Main Road falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ragavendra Colony Main Road?

The current guideline value of Ragavendra Colony Main Road 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 increased 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 Ragavendra Colony Main Road?

The land classification for Ragavendra Colony Main Road is Residential Class II Type - I.

What is the stamp duty rate for transactions in this area?

The stamp duty rate for property transactions in this area is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Ragavendra Colony Main Road?

The Sub Registrar Office covering Ragavendra Colony Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.