Guideline Value for Ragavan Nagar

Ragavan Nagar guideline value

The current guideline value of Ragavan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vedanareyanapuram village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - II.

How the guideline value of Ragavan Nagar has changed

The guideline value for Ragavan Nagar has seen several revisions over the years. The register shows no figures for the years 2002, 2003, and 2007. In the 2012 revision, the guideline value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. The value then increased significantly to Rs 500 per sq.ft in the 2023 revision, remaining stable at this rate in the 2024 revision, reflecting a change of +0% from 2023 to 2024.

From 2012 to 2017, there was a decrease of -33%, followed by a substantial increase of +49% from 2017 to 2023. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,050 per sq.ft, with a median value of Rs 600 per sq.ft. Ragavan Nagar's 2024 guideline value is below this median.

• Ragava Nagar Extension-II: Rs 900 per sq.ft (2024)
• Ragavendra nagar: Rs 600 per sq.ft (2024)
• Ragavendra nagar Ext: Rs 600 per sq.ft (2024)
• Ponniyamman Nagar: Rs 500 per sq.ft (2024)
• Perumal Nagar Ext: Rs 500 per sq.ft (2024)
• Perumal Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total amount to Rs 45,000. It is important to note that the 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 Nagar?

The Sub Registrar Office that covers Ragavan Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vedanareyanapuram. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that the guideline value is often used as a reference point in transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ragavan Nagar?

The current guideline value of Ragavan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, then increased back to Rs 500 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained unchanged.

What is the land classification of Ragavan Nagar?

Ragavan Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the other streets in Vedanareyanapuram with their guideline values?

Other streets in Vedanareyanapuram include Ragava Nagar Extension-II at Rs 900 per sq.ft, Ragavendra nagar and Ragavendra nagar Ext both at Rs 600 per sq.ft, and Ponniyamman Nagar, Perumal Nagar Ext, and Perumal Nagar all at Rs 500 per sq.ft.

Where can I find the Sub Registrar Office for Ragavan Nagar?

The Chengleput Joint I Sub Registrar Office covers Ragavan Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.