Guideline Value for RAGHAVA CHETTY STREET

Raghava Chetty Street guideline value

The current guideline value of Raghava Chetty Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Raghava Chetty Street has changed

The guideline value for Raghava Chetty Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a substantial rise of 233%. However, the value then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently, it increased to Rs 6,500 per sq.ft in 2024, reflecting an 8% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 261%. The changes between the revisions highlight the fluctuations in property values over the years, with the most significant increase occurring between 2007 and 2012.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, placing Raghava Chetty Street's 2024 figure above this median.

• Raja Annamalai Chettiar Road: Rs 12,100 per sq.ft (2024)
• Purasawakkam High Road Lane: Rs 10,900 per sq.ft (2024)
• Purasawakkam High Road: Rs 10,900 per sq.ft (2024)
• Pudhu Thandavarayan Mudali Street: Rs 5,500 per sq.ft (2024)
• Prasanna Vinayagar Koil Street: Rs 6,500 per sq.ft (2024)
• Rajarathinam Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, while the registration fee at 2% would be Rs 1,30,000. Together, the total cost for stamp duty and registration fee would be Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raghava Chetty Street?

The Sub Registrar Office that covers Raghava Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is the basis for these fees, which can significantly impact the overall cost of the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that both parties are aware of the financial implications involved in the sale.

Frequently asked questions

What is the current guideline value of Raghava Chetty Street?

The current guideline value of Raghava Chetty Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over the years.

What is the land classification for Raghava Chetty Street?

The land classification for Raghava Chetty Street is Residential Class II Type - II.

Where is the Sub Registrar Office for Raghava Chetty Street located?

The Sub Registrar Office for Raghava Chetty Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property in Raghava Chetty Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 65,00,000 would incur a stamp duty of Rs 4,55,000.