Guideline Value for Ragava Street

Ragava Street guideline value

The current guideline value of Ragava Street, located in Perungalathur village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Ragava Street has changed

The guideline value for Ragava Street has experienced several revisions since 2007. The 2007 revision set the value at Rs 300 per sq.ft, which then increased significantly to Rs 1,200 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and most recently, it increased to Rs 1,320 per sq.ft in 2024, a change of 10% from the previous year.

There are no figures available for Ragava Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has risen by 340%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Ragava Street's current guideline value is below this median.

• Ragavendra Avenue: Rs 1,980 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,980 per sq.ft (2024)
• Ragavendra Nagar Extn.: Rs 1,980 per sq.ft (2024)
• Ragavendra Theru: Rs 2,310 per sq.ft (2024)
• Rajaji Street: Rs 2,640 per sq.ft (2024)
• Rajamanickam Theru: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Ragava Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragava Street?

The Sub Registrar Office that covers Ragava Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perungalathur. It determines the minimum value at which properties can be registered, thereby influencing the stamp duty and registration fees payable by buyers and sellers.

When a property is bought or sold, the guideline value serves as a benchmark to ensure that transactions are conducted at a fair value. This helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ragava Street?

The current guideline value of Ragava Street is Rs 1,320 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 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 340%.

What is the land classification of Ragava Street?

Ragava Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties on Ragava Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Ragava Street located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.