Guideline Value for RAGAVENDRA NAGAR

Ragavendra Nagar guideline value

The current guideline value of Ragavendra Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Ragavendra Nagar has changed

The guideline value for Ragavendra Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, the value dropped to Rs 268 per sq.ft in the 2017 revision, before stabilizing at Rs 400 per sq.ft in both the 2023 and 2024 revisions. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a remarkable 567%. Overall, from 2007 to 2024, the guideline value has increased by 567%, reflecting the changes in the real estate landscape over the years.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Ragavendra Nagar's 2024 figure at this median value.

• Rainbow Garden: Rs 1,344 per sq.ft (2024)
• Rajesh Nagar: Rs 400 per sq.ft (2024)
• Plantinam Nagar Phase-II: Rs 500 per sq.ft (2024)
• Sairam Nagar: Rs 500 per sq.ft (2024)
• Sairam Nagar Extension II: Rs 1,200 per sq.ft (2024)
• Sairam Nagar Extn: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, resulting in Rs 28,000, and the registration fee is 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fee is Rs 36,000. It is important to 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 more details.

Which Sub Registrar Office covers Ragavendra Nagar?

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

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

The guideline value is a crucial factor in the registration of property transactions in Venkatapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with significant increases from Rs 60 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, and again stabilizing at Rs 400 per sq.ft from 2023 to 2024.

What is the median guideline value in Venkatapuram?

The median guideline value in Venkatapuram is Rs 400 per sq.ft, with Ragavendra Nagar's value aligning with this median.

What are the stamp duty and registration fees for property in Ragavendra Nagar?

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000 in fees.

Where is the Sub Registrar Office for Ragavendra Nagar located?

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