Guideline Value for RAGAVENDRA NAGAR (N)

Ragavendra Nagar (N) guideline value

The current guideline value of Ragavendra Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Ragavendra Nagar (N) has changed

The guideline value for Ragavendra Nagar (N) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent 2024 revision raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that Ragavendra Nagar (N) is below this median value.

• Ragavendrar Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Rail Nagar 10nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 11nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 12nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 13nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar, 13th Cross Street (Ward -2): Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ragavendra Nagar (N)?

The Sub Registrar Office that covers Ragavendra Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar (N)?

The current guideline value of Ragavendra Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Ragavendra Nagar (N)?

The land classification for Ragavendra Nagar (N) is Residential Class I Type - III.

What are the other streets with guideline values in Ninna Karai?

Other streets in Ninna Karai include Ragavendrar Koil Street Peramanur at Rs 440 per sq.ft, and several Rail Nagar streets at Rs 1,100 per sq.ft.

Where is the Sub Registrar Office for Ragavendra Nagar (N)?

The Sub Registrar Office for Ragavendra Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.