Guideline Value for RAGAVENDRA NAGAR

Ragavendra Nagar guideline value

The current guideline value of Ragavendra Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village under the Chengleput Joint II SRO, and the land classification is Residential Special Type - II.

How the guideline value of Ragavendra Nagar has changed

The guideline value for Ragavendra Nagar has seen several revisions over the years. In 2007, the value was Rs 210 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, this value was revised down to Rs 469 per sq.ft in 2017. The subsequent revisions saw the guideline value return to Rs 700 per sq.ft in both 2023 and 2024, with no figures available for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%. The most notable increase was from 2007 to 2012, with a rise of 233%. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Ragavendra Nagar. Below are the guideline values for other streets in Kayirambedu:

• Purva Soukhyam Phase-M: Rs 1,600 per sq.ft (2024)
• Purva Soukhyam Phase-C: Rs 1,600 per sq.ft (2024)
• Pugazh Avenue: Rs 700 per sq.ft (2024)
• P R Avenue: Rs 1,500 per sq.ft (2024)
• Rajeev Nagar: Rs 700 per sq.ft (2024)
• Pragathi Enclave Phase 2: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendra Nagar?

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

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

When buying or selling property in Kayirambedu, the guideline value is a critical factor used during the registration process. It serves as a benchmark for calculating the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of the transaction. It ensures that the property is valued appropriately for registration purposes, aligning with the official rates set by the government.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Ragavendra Nagar?

The land classification for Ragavendra Nagar is Residential Special Type - II.

Where is the Chengleput Joint II Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total cost would include the guideline value, stamp duty, and registration fees.