Guideline Value for RAGAVENDRHRA COLONY

Ragavendrhra Colony guideline value

The current guideline value of Ragavendrhra Colony, located in Jelandianpettai village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Ragavendrhra Colony has changed

The guideline value for Ragavendrhra Colony has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,650 per sq.ft in the 2024 revision.

Notably, the change from 2023 to 2024 reflects a 10% increase. The period from 2017 to 2023 saw a substantial rise of 49%. However, the 2012 to 2017 period experienced a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Ragavendrhra Colony's 2024 figure is below this median.

• Ragavendra Colony Main Road: Rs 2,200 per sq.ft (2024)
• Rajaganapathy Nagar: Rs 1,320 per sq.ft (2024)
• Quaid-E-Millath Street: Rs 1,650 per sq.ft (2024)
• Puuthu Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar Thiruvenkadam Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendrhra Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendrhra Colony?

The Ragavendrhra Colony falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor during property transactions in Jelandianpettai. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ragavendrhra Colony?

The current guideline value of Ragavendrhra Colony is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Jelandianpettai with their guideline values?

Other streets in Jelandianpettai include Ragavendra Colony Main Road at Rs 2,200 per sq.ft, Rajaganapathy Nagar at Rs 1,320 per sq.ft, and Quaid-E-Millath Street at Rs 1,650 per sq.ft, among others.

What is the stamp duty for properties in Ragavendrhra Colony?

The stamp duty for properties in Ragavendrhra Colony is 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Where is the Sub Registrar Office for Ragavendrhra Colony located?

The Sub Registrar Office covering Ragavendrhra Colony is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.