Guideline Value for Ragavan Nagar

Ragavan Nagar guideline value

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

How the guideline value of Ragavan Nagar has changed

The guideline value for Ragavan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,700 per sq.ft.

In terms of percentage changes, the value increased by 8% from 2023 to 2024. Between 2017 and 2023, there was a significant increase of 49%. However, the value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1318 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 guideline value for these streets is Rs 2,700 per sq.ft, making Ragavan Nagar's current value equal to this median.

• Ragavan Street: Rs 2,700 per sq.ft (2024)
• Ragavan Colony: 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 Nagar

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, bringing the total cost for these fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ragavan Nagar?

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

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

The guideline value is a critical factor in property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value serves as a benchmark for the transaction, ensuring that the property is not undervalued. This helps maintain transparency and fairness in the real estate market.

Frequently asked questions

What is the current guideline value of Ragavan Nagar?

The current guideline value of Ragavan Nagar 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 back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Ragavan Nagar?

Ragavan Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

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

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