Guideline Value for RAGAVENDRA MODERN CITY ANNEXE

Ragavendra Modern City Annexe guideline value

The current guideline value of Ragavendra Modern City Annexe is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Alamathi village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ragavendra Modern City Annexe has changed

The guideline value for Ragavendra Modern City Annexe has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision and further rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the adjustment from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Alamathi

In Alamathi village, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with the median being Rs 550 per sq.ft. The guideline value for Ragavendra Modern City Annexe aligns with this median.

• Perumal Koil Street: Rs 990 per sq.ft (2024)
• Pelican Nagar: Rs 550 per sq.ft (2024)
• Rich Garden: Rs 550 per sq.ft (2024)
• Parthiban Nagar: Rs 550 per sq.ft (2024)
• Sakthi Garden: Rs 770 per sq.ft (2024)
• Sakthi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Modern City Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that 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 Modern City Annexe?

The Sub Registrar Office that covers Ragavendra Modern City Annexe is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Alamathi, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value for Ragavendra Modern City Annexe?

The current guideline value for Ragavendra Modern City Annexe is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Ragavendra Modern City Annexe?

For a 1,000 sq.ft plot, the total guideline value would be Rs 5,50,000. The stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers this area?

The Redhills Sub Registrar Office covers Ragavendra Modern City Annexe, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Ragavendra Modern City Annexe?

The land classification for Ragavendra Modern City Annexe is Residential Class II Type - I.