Guideline Value for RAGUNATHAN STREET

Ragunathan Street guideline value

The current guideline value of Ragunathan Street in Uthandi village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Ragunathan Street has changed

The guideline value for Ragunathan Street has seen significant changes over the years. In 2003, the value was Rs 85 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 488%. Following this, the value surged to Rs 1,500 per sq.ft in 2012, reflecting a 200% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 set the value at Rs 1,700 per sq.ft, representing a 13% increase from the previous year.

The register does not contain figures for Ragunathan Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by an impressive 1900%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is equal to the 2024 figure for Ragunathan Street.

• RAGUNATHAN 6th CROSS STREET: Rs 1,700 per sq.ft (2024)
• RAGUNATHAN 5th CROSS STREET: Rs 1,700 per sq.ft (2024)
• RAGUNATHAN 4th CROSS STREET: Rs 1,700 per sq.ft (2024)
• RAGUNATHAN 3rd CROSS STREET: Rs 1,700 per sq.ft (2024)
• RAGUNATHAN 2nd CROSS STREET: Rs 1,700 per sq.ft (2024)
• RAGUNATHAN 1st CROSS STREET: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ragunathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragunathan Street?

The Sub Registrar Office that covers Ragunathan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Uthandi. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is often a key factor in the transaction process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount in taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Ragunathan Street?

The current guideline value of Ragunathan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 85 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1900% over the years.

What are the other streets in Uthandi with the same guideline value?

Other streets in Uthandi with a guideline value of Rs 1,700 per sq.ft in 2024 include RAGUNATHAN 1st CROSS STREET, RAGUNATHAN 2nd CROSS STREET, RAGUNATHAN 3rd CROSS STREET, RAGUNATHAN 4th CROSS STREET, RAGUNATHAN 5th CROSS STREET, and RAGUNATHAN 6th CROSS STREET.

What is the stamp duty for property in Ragunathan Street?

The stamp duty for a property in Ragunathan Street is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,19,000.

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

The Sub Registrar Office for Ragunathan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.