Guideline Value for Ragavan Colony

Ragavan Colony guideline value

The current guideline value of Ragavan Colony, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ragavan Colony has changed

The guideline value for Ragavan Colony has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Ragavan Colony.

• Ragavan Nagar: Rs 2,700 per sq.ft (2024)
• Ragavan Street: Rs 2,700 per sq.ft (2024)
• Ragavendra Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Ragavendra Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,200 per sq.ft (2024)
• Raghavan Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavan Colony?

The Madhavaram Sub Registrar Office covers Ragavan Colony. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ragavan Colony?

The current guideline value of Ragavan Colony is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and currently to Rs 2,700 per sq.ft in 2024.

What is the land classification of Ragavan Colony?

Ragavan Colony is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Ragavan Colony?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.