Guideline Value for RAGHUPATHY STREET

Raghupathy Street guideline value

The current guideline value of Raghupathy Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Raghupathy Street has changed

Over the years, the guideline value of Raghupathy Street has seen several revisions. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,160 per sq.ft in the 2024 revision, marking an overall increase of 8% from 2012 to 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Specifically, the change from 2017 to 2023 was an increase of 49%, while the change from 2023 to 2024 was an increase of 8%. The fluctuations in the guideline value reflect the adjustments made over the years, culminating in the current figure that aligns with the median value for the village.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, which is equal to the current guideline value of Raghupathy Street.

• Rabhin Nagar: Rs 2,160 per sq.ft (2024)
• Quarry Street: Rs 1,100 per sq.ft (2024)
• PURUSHOTHAMAN NAGAR 1sT STREET: Rs 2,200 per sq.ft (2024)
• P.T.C.Quarters: Rs 2,200 per sq.ft (2024)
• Rajarajeshwari Street: Rs 2,420 per sq.ft (2024)
• Postal Colony: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Raghupathy Street

For a 1,000 sq.ft plot at the current rate of Rs 2,160 per sq.ft, the guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total cost for these fees Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raghupathy Street?

The Sub Registrar Office that covers Raghupathy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nemilicherry, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raghupathy Street?

The current guideline value of Raghupathy Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Raghupathy Street?

Raghupathy Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Raghupathy Street?

The Sub Registrar Office for Raghupathy Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Raghupathy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at 7%.