Guideline Value for Ragavan Street

Ragavan Street guideline value

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

How the guideline value of Ragavan Street has changed

The guideline value for Ragavan Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023 and further rose to Rs 2,700 per sq.ft in the 2024 revision, marking an overall increase of 8% from 2012 to 2024.

From 2017 to 2023, there was a notable increase of 49%. The transition from 2023 to 2024 saw an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which aligns with the current guideline value of Ragavan Street.

• Ragavan Nagar: 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 Street

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, while the registration fee at 2% would be Rs 54,000. The total cost for these fees would be Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Ragavan Street?

The Sub Registrar Office that covers Ragavan Street 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 crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory during the transaction process.

Frequently asked questions

What is the current guideline value of Ragavan Street?

The current guideline value of Ragavan Street 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 finally to Rs 2,700 per sq.ft in 2024.

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

Other streets in Kodungaiyur with a guideline value of Rs 2,700 per sq.ft include Ragavan Nagar, Ragavan Colony, Ragavendra Nagar 1st Street, Ragavendra Nagar Main Road, and Raghavan Nagar 1st Street.

What is the registration fee for property in Ragavan Street?

The registration fee is calculated based on the guideline value. For a property valued at Rs 27,00,000, the registration fee at 2% would be Rs 54,000.

Where is the Sub Registrar Office for Ragavan Street located?

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