Guideline Value for RAGAVENDRA NAGAR (N)

Ragavendra Nagar (N) guideline value

The current guideline value of Ragavendra Nagar (N) is Rs 661 per sq.ft. This area is located in Peramanoor 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 for Ragavendra Nagar (N) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 661 per sq.ft in the 2024 revision, representing a 10% rise.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the current 2024 revision, the value has increased by 10%. The guideline value register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Ragavendra Nagar (N) below this median value.

• Ragavendrar Koil Street Peramanur (Ward -15): Rs 661 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 661 per sq.ft, the total guideline value amounts to Rs 6,61,000. The stamp duty, calculated at 7%, is Rs 46,270, while the registration fee at 2% is Rs 13,220, bringing the total fees to Rs 59,490. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise 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, in the Chengalpattu registration zone. To find more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Peramanoor, as it serves as a reference for the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property in the official records. This helps maintain transparency in property dealings and ensures compliance 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 661 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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

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

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

Where can I find 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.

How are stamp duty and registration fees calculated in Ragavendra Nagar (N)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 661 per sq.ft incurs total fees of Rs 59,490.