Guideline Value for RAGAVENDRA NAGAR EXTENSION

Ragavendra Nagar Extension guideline value

The current guideline value of Ragavendra Nagar Extension is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of Ragavendra Nagar Extension has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,300 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 9%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Korattur

There are 617 streets in Korattur under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Ragavendra Nagar Extension.

• Ragavendera Nagar (Vivekananda Nagar): Rs 2,500 per sq.ft (2024)
• Pudu Street (Thathankuppam): Rs 1,600 per sq.ft (2024)
• Pudu Street (Kallikuppam): Rs 2,100 per sq.ft (2024)
• Pothiyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Raja Street: Rs 1,600 per sq.ft (2024)
• RAJIV GANDHI NAGAR (THATANKUPPAM) 1st STREET: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost to Rs 2,25,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ragavendra Nagar Extension?

The Sub Registrar Office covering Ragavendra Nagar Extension is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate stamp duty and registration fees.

It is important for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Accurate knowledge of the guideline value helps in ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar Extension?

The current guideline value of Ragavendra Nagar Extension is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2024, reflecting a 9% increase. There were no changes recorded for the years 2003, 2007, and 2017.

What is the land classification of Ragavendra Nagar Extension?

Ragavendra Nagar Extension is classified as Residential Class II Type - III. This classification affects the guideline value and property usage in the area.

Where can I find the Sub Registrar Office for this area?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles property registrations for Ragavendra Nagar Extension.

What fees are associated with property registration in Ragavendra Nagar Extension?

The fees associated with property registration include a stamp duty of 7% on the guideline value and a registration fee of 2%. These fees are calculated based on the higher of the guideline value or the sale price.