Guideline Value for Ragavalu Nayakkar Street

Ragavalu Nayakkar Street guideline value

The current guideline value of Ragavalu Nayakkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ragavalu Nayakkar Street has changed

The guideline value for Ragavalu Nayakkar Street has undergone several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which decreased to Rs 353 per sq.ft in 2003. The value then increased to Rs 400 per sq.ft in 2007, and further rose to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017, before increasing to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The value saw a 275% rise from 2007 to 2012. However, there was a decrease of 33% between 2012 and 2017. The value increased by 13% from 2003 to 2007, while it experienced a substantial decrease of 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has decreased by 52%.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Ragavalu Nayakkar Street.

• Raghavel Naicker Street Lane: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Cross Street: Rs 1,650 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Prakasam Street: Rs 1,320 per sq.ft (2024)
• Poonga Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavalu Nayakkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Ragavalu Nayakkar Street?

The Sub Registrar Office that covers Ragavalu Nayakkar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For further information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ragavalu Nayakkar Street?

The current guideline value of Ragavalu Nayakkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,471 per sq.ft in 2002, and currently stands at Rs 1,650 per sq.ft as of 2024. There have been both increases and decreases in the value over the years.

What is the registration fee for property in Ragavalu Nayakkar Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 16,50,000, the registration fee would be Rs 33,000.

Where is the Sub Registrar Office for Ragavalu Nayakkar Street located?

The Sub Registrar Office for Ragavalu Nayakkar Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Other streets in Naravarikuppam with the same guideline value of Rs 1,650 per sq.ft include Raghavel Naicker Street Lane, P.W.D. Office Street, and P.W.D. Office Cross Street.