Guideline Value for Ragavan Street

Ragavan Street guideline value

The current guideline value of Ragavan Street in Pammal village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Ragavan Street has changed

The guideline value for Ragavan Street has seen significant changes over the years. The earliest recorded revision in 2002 was Rs 187 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a 13% rise. By 2007, the value had jumped to Rs 360 per sq.ft, representing a 70% increase from the previous revision. However, there are no figures available for the revisions in 2012 and 2017.

From 2007, the guideline value rose dramatically to Rs 1,800 per sq.ft in 2023, showing a remarkable 400% increase. The most recent revision, effective from July 2024, sets the value at Rs 1,980 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 959%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Ragavan Street's 2024 figure below that median.

• Ragavan Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Radhakrishnan Salai / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Rahgupathy Street (T.S.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Puspagiri Street: Rs 1,760 per sq.ft (2024)
• Pulavar Jeganathan Street / Pasumpon nagar: Rs 1,980 per sq.ft (2024)
• Pugazenthi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavan Street?

The Ragavan Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ragavan Street?

The current guideline value of Ragavan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 187 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 959% over the years.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Ragavan Street?

The Pammal Sub Registrar Office handles registrations for Ragavan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with similar guideline values in Pammal?

Yes, there are several other streets in Pammal with varying guideline values. For instance, Ragavan Street, Sivasankaran Nagar and Pulavar Jeganathan Street both have a guideline value of Rs 1,980 per sq.ft in 2024.