Guideline Value for Ragavayar Street

Ragavayar Street guideline value

The current guideline value of Ragavayar Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Ragavayar Street has changed

The guideline value for Ragavayar Street has undergone several revisions over the years. In 2007, the value was Rs 586 per sq.ft, which saw a substantial increase to Rs 2,700 per sq.ft in 2012, marking a rise of 361%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,809 per sq.ft. The subsequent revision in 2023 set the value at Rs 2,700 per sq.ft, reflecting a significant increase of 49% from the previous figure. The latest revision in 2024 has brought the guideline value up to Rs 2,970 per sq.ft, showing a 10% increase from 2023.

It is important to note that the register has no figures for Ragavayar Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 407%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, which matches the current value of Ragavayar Street.

• Ragava Iyer 1 And 2nd Street: Rs 2,970 per sq.ft (2024)
• Raghava Nagar: Rs 2,970 per sq.ft (2024)
• Purusothaman Nagar 5th Main Road: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 4th Main Road: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 4th Cross 2nd Street: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 4th Cross 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty, calculated at 7%, would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavayar Street?

The Sub Registrar Office that covers Ragavayar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Hastinapuram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

Buyers and sellers should be aware that the guideline value is updated periodically, and it reflects the prevailing rates in the area. This value is essential for calculating the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Ragavayar Street?

The current guideline value of Ragavayar Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 586 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 407% over the years.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office manages the registration for Ragavayar Street?

The Pallavaram Sub Registrar Office manages the registration for Ragavayar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the range of guideline values for streets in Hastinapuram?

The guideline values for streets in Hastinapuram range from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft, which is the same as that of Ragavayar Street.