Guideline Value for RAGAVENDRA NAGAR (SITH)

Ragavendra Nagar (Sith) guideline value

The current guideline value of Ragavendra Nagar (Sith) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

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

The guideline value for Ragavendra Nagar (Sith) has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. However, the value increased to Rs 700 per sq.ft in 2023 and further rose to Rs 770 per sq.ft in the 2024 revision.

Between the revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. Then, from 2017 to 2023, it increased significantly by 49%. The latest increase from 2023 to 2024 is 10%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Ragavendra Nagar (Sith) below this median.

• Rajagopal Street (Chen): Rs 660 per sq.ft (2024)
• Rajaji Street (Chen): Rs 660 per sq.ft (2024)
• Prema Nagar (Chen): Rs 660 per sq.ft (2024)
• Rajeswari Nagar (Chen): Rs 660 per sq.ft (2024)
• Rajiv Gandhi Street (Chen): Rs 660 per sq.ft (2024)
• Poompugar Nagar (Chen): Rs 660 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Nagar (Sith)?

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

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor during the registration process when buying or selling property in Sengundram - 1. It helps determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer approaches the registration office, the guideline value ensures that the transaction is recorded at a fair value as per government regulations. This process helps maintain transparency and accountability in real estate transactions within the area.

Frequently asked questions

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

The current guideline value of Ragavendra Nagar (Sith) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

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

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, for a property valued at Rs 7,70,000, the total fees would amount to Rs 69,300.

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

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