Guideline Value for RAGAVENDRA NAGAR (ALL PHASES)

Ragavendra Nagar (All Phases) guideline value

The current guideline value of Ragavendra Nagar (All Phases) is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village under the Thiruvottiyur SRO, classified as Residential Special Type - II.

How the guideline value of Ragavendra Nagar (All Phases) has changed

Over the years, the guideline value of Ragavendra Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, followed by a decrease to Rs 201 per sq.ft in 2017. In the 2023 revision, the value rose to Rs 300 per sq.ft, and the most recent revision in 2024 set it at Rs 330 per sq.ft.

The changes between these revisions are noteworthy. From 2007 to 2012, the value increased by 500%, but then dropped by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and finally, a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 560% from 2007 to 2024.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the guideline value of Ragavendra Nagar.

• Ragavendra Nagar: Rs 330 per sq.ft (2024)
• Rajaji Nagar: Rs 330 per sq.ft (2024)
• Prakash Avenue: Rs 330 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 330 per sq.ft (2024)
• Pidaraiyar Koil Street: Rs 330 per sq.ft (2024)
• Ranga Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar (All Phases)

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendra Nagar (All Phases)?

The Sub Registrar Office that covers Ragavendra Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanthiambakkam. It is used to determine the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar (All Phases) is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, reflecting a total increase of 560% over this period.

What is the stamp duty rate for properties in Ragavendra Nagar?

The stamp duty rate for properties in Ragavendra Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ragavendra Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value in Nanthiambakkam?

The median guideline value in Nanthiambakkam is Rs 330 per sq.ft, which is the same as the guideline value for Ragavendra Nagar.