Guideline Value for Ragallamman Kovil Street

Ragallamman Kovil Street guideline value

The current guideline value of Ragallamman Kovil Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Vaipoor village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ragallamman Kovil Street has changed

The guideline value for Ragallamman Kovil Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 250 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a reduction of 33%. The value then increased significantly to Rs 250 per sq.ft in the 2023 revision, reflecting a 50% increase from the previous figure. The 2024 revision maintains this value at Rs 250 per sq.ft, showing no change from 2023.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street, indicating that the register does not provide data for those years.

Guideline values in Vaipoor

In Vaipoor village, there are nine streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 300 per sq.ft. The median value among these streets is Rs 250 per sq.ft, which is the same as the guideline value for Ragallamman Kovil Street.

• Perumal Kovil Street: Rs 250 per sq.ft (2024)
• Selliyamman Koil Street: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 250 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Mahakavi Bharathiyar Nagar Stage I & II: Rs 300 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Ragallamman Kovil Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which totals Rs 17,500, and the registration fee is 2%, amounting to Rs 5,000. Together, these fees total Rs 22,500. 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 information.

Which Sub Registrar Office covers Ragallamman Kovil Street?

The Sub Registrar Office that covers Ragallamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Vaipoor. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is processed according to the established legal framework.

Frequently asked questions

What is the current guideline value of Ragallamman Kovil Street?

The current guideline value of Ragallamman Kovil Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with notable revisions in 2012, 2017, 2023, and 2024. It was Rs 250 per sq.ft in 2012, decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in both 2023 and 2024.

What is the land classification of Ragallamman Kovil Street?

Ragallamman Kovil Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 22,500 in fees.

Which office handles property registrations for Ragallamman Kovil Street?

The Sunguvarchattram Sub Registrar Office handles property registrations for Ragallamman Kovil Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.