Guideline Value for RAGAVENDRA STREET

Ragavendra Street guideline value

The current guideline value of Ragavendra Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Ragavendra Street has changed

The guideline value for Ragavendra Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, in 2017, the value decreased to Rs 871 per sq.ft, which is a decline of 33%. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value continued into the 2024 revision, showing no change.

In summary, from 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 767%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in this village is Rs 1,000 per sq.ft, placing Ragavendra Street's current value above that median.

• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Rajan Avenue: Rs 1,300 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)
• Rajeshwari Nagar: Rs 1,300 per sq.ft (2024)
• POONAMALLEE THIRUVALLUR SALAI (KOSASTHALAI RIVER OVERHEAD BRIDGE to NDP KALYANA MANDABAM): Rs 2,000 per sq.ft (2024)
• Ponnuswamy Naickar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ragavendra Street?

The Sub Registrar Office that covers Ragavendra Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller comply with the legal requirements set forth by the government during the transaction.

Frequently asked questions

What is the current guideline value of Ragavendra Street?

The current guideline value of Ragavendra Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most significant increase occurring from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012. The value has remained at Rs 1,300 per sq.ft since 2012, with no change in the 2023 and 2024 revisions.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft. Ragavendra Street's current guideline value is above this median.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, making a total of Rs 1,17,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ragavendra Street located?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. This office handles the registration of properties in Ragavendra Street.