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 Panangottur village under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

The guideline value of Ragavendra Nagar (N) has undergone 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%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 600 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 660 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, indicating that the guideline value of Ragavendra Nagar (N) is below the median.

• Ragavendrar Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Rail Nagar 10nd Street (Ward -2): Rs 661 per sq.ft (2024)
• Rail Nagar 11nd Street (Ward -2): Rs 661 per sq.ft (2024)
• Rail Nagar 12nd Street (Ward -2): Rs 661 per sq.ft (2024)
• Rail Nagar 13nd Street (Ward -2): Rs 661 per sq.ft (2024)
• Rail Nagar, 13th Cross Street (Ward -2): Rs 661 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, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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 Panangottur

The guideline value plays a crucial role when buying or selling property in Panangottur. It serves as a benchmark for determining the minimum value of a property for registration purposes. This value is essential for calculating the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

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 seen several changes, starting from Rs 600 per sq.ft in 2012, dropping to Rs 402 per sq.ft in 2017, rising to Rs 600 per sq.ft in 2023, and finally reaching Rs 660 per sq.ft in 2024.

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

Ragavendra Nagar (N) is classified as Residential Class I Type - III, indicating its designation for residential use.

What are the stamp duty rates for property transactions in Ragavendra Nagar (N)?

The stamp duty rate for property transactions in Ragavendra Nagar (N) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.