Guideline Value for RAGHAVAN STREET

Raghavan Street guideline value

The current guideline value of Raghavan Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - III.

How the guideline value of Raghavan Street has changed

Over the years, the guideline value of Raghavan Street has seen several revisions. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, the value then decreased to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 5,000 per sq.ft, and the latest 2024 revision has further increased it to Rs 5,500 per sq.ft, marking a 10% rise from the previous year.

In total, from 2007 to 2024, the guideline value has increased by 307%. Notably, there are no figures available for the revisions in 2002 and 2003 for Raghavan Street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Raghavan Street's current guideline value is below this median.

• Raghuraman Street: Rs 6,000 per sq.ft (2024)
• Raghuram Street: Rs 6,000 per sq.ft (2024)
• Rajagopal Street: Rs 6,000 per sq.ft (2024)
• Quide Millath I St Street: Rs 3,800 per sq.ft (2024)
• Quide Millath II Nd Street: Rs 3,300 per sq.ft (2024)
• Quide Millath III Rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghavan Street?

The Sub Registrar Office that covers Raghavan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raghavan Street?

The current guideline value of Raghavan Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,350 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024. Notable changes include a decrease from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, followed by increases in subsequent years.

What is the land classification for Raghavan Street?

Raghavan Street is classified as Residential Special Type - III, which is designated for specific residential purposes.

Where can I find the registration office for Raghavan Street?

The registration office for Raghavan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Raghavan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.