Guideline Value for Ragavendira Nagar

Ragavendira Nagar guideline value

The current guideline value of Ragavendira Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This locality is part of Srinivasapuram village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Ragavendira Nagar has changed

The guideline value for Ragavendira Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 70 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The value then rose sharply by 350% to reach Rs 1,800 per sq.ft in 2012. However, it decreased by 33% to Rs 1,206 per sq.ft in 2017. The value further increased by 49% to Rs 1,800 per sq.ft in 2023, and finally, it rose by 11% to reach Rs 2,000 per sq.ft in the 2024 revision.

The register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 2,757%.

Guideline values in Srinivasapuram

Srinivasapuram village has 39 streets under the Kunrathur SRO with guideline values ranging from Rs 1,550 to Rs 7,400 per sq.ft in 2024. The median value for these streets is Rs 1,650 per sq.ft, making Ragavendira Nagar's 2024 figure of Rs 2,000 per sq.ft higher than the median.

• Rajarathinam Nagar / Annexe: Rs 2,000 per sq.ft (2024)
• Ramachandra Nagar: Rs 1,750 per sq.ft (2024)
• Perumal Koil Street: Rs 1,550 per sq.ft (2024)
• R.R.Nagar Annexe: Rs 1,550 per sq.ft (2024)
• Sai Rai Nagar: Rs 1,550 per sq.ft (2024)
• Sangamithra Avenue: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendira Nagar?

The Sub Registrar Office covering Ragavendira Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Srinivasapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

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, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Ragavendira Nagar?

The current guideline value of Ragavendira Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 70 per sq.ft to Rs 2,000 per sq.ft in 2024, marking an overall increase of 2,757%.

What is the median guideline value in Srinivasapuram?

The median guideline value for streets in Srinivasapuram is Rs 1,650 per sq.ft, with Ragavendira Nagar's value being above this median.

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

For a property valued at Rs 20,00,000, the total stamp duty is Rs 1,40,000 and the registration fee is Rs 40,000, totaling Rs 1,80,000.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.