Guideline Value for RAGHAVENDRA NAGAR

Raghavendra Nagar guideline value

The current guideline value of Raghavendra Nagar, located in Ramapuram village, is Rs 3,100 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Raghavendra Nagar has changed

Over the years, the guideline value of Raghavendra Nagar has seen several revisions. The earliest recorded figure in 2002 was Rs 280 per sq.ft. This value increased significantly to Rs 346 per sq.ft in 2003, marking a 24% rise. By 2007, the guideline value jumped to Rs 1,100 per sq.ft, reflecting a substantial increase of 218%. In 2012, the value remained at Rs 2,800 per sq.ft, but it decreased by 33% from the previous revision. The next revision in 2017 saw the guideline value rise to Rs 1,876 per sq.ft, followed by a notable increase to Rs 2,800 per sq.ft in 2023, which was a 49% rise. The latest revision in 2024 sets the guideline value at Rs 3,100 per sq.ft, representing an 11% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 1007%. The register does not have figures for the years between these revisions.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is the same as the guideline value for Raghavendra Nagar.

• Ragavendra Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 2nd Lane: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar 1st Lane: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost for these fees to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghavendra Nagar?

The Sub Registrar Office that covers Raghavendra Nagar is the Chennai South Joint II 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Raghavendra Nagar?

The current guideline value of Raghavendra Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 280 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 1007% over these years.

What are the stamp duty and registration fees for a property in Raghavendra Nagar?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which office handles registrations for Raghavendra Nagar?

The registrations for Raghavendra Nagar are handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.