Guideline Value for RAGAVENDRA NAGAR

Ragavendra Nagar guideline value

The current guideline value of Ragavendra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Ragavendra Nagar has changed

Over the years, the guideline value of Ragavendra Nagar has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following that, the value increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in the 2024 revision. The register has no figure for this street in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, indicating that Ragavendra Nagar's 2024 figure is below that median.

• Rajaram Garden: Rs 1,100 per sq.ft (2024)
• Ponnusamy Garden: Rs 1,100 per sq.ft (2024)
• Polaris It Co.,: Rs 3,000 per sq.ft (2024)
• Ramalakshmi Ammal Garden: Rs 1,100 per sq.ft (2024)
• P.E.Shankar Garden: Rs 2,200 per sq.ft (2024)
• Perumal Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Nagar?

The Sub Registrar Office that covers Ragavendra Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Karapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price meets or exceeds the guideline value to avoid any legal complications. The registration office will use the guideline value to assess the applicable fees, which are mandatory for the completion of the property transaction.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Ragavendra Nagar?

Ragavendra Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Ragavendra Nagar?

The Neelankarai Sub Registrar Office covers Ragavendra Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Ragavendra Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.