Guideline Value for Ragavendra Avenue

Ragavendra Avenue guideline value

The current guideline value of Ragavendra Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Ragavendra Avenue has changed

The guideline value for Ragavendra Avenue has undergone several revisions over the years. The earliest recorded figure was in 2012, set at Rs 2,500 per sq.ft. In 2017, the value decreased to Rs 1,675 per sq.ft. However, it saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no recorded figures for this street.

Guideline values in Chitlapakkam

Within Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, placing Ragavendra Avenue's 2024 value above this median.

• Ragavendra Road: Rs 3,300 per sq.ft (2024)
• Ragavenra salai: Rs 3,300 per sq.ft (2024)
• Radhakrishna St: Rs 1,650 per sq.ft (2024)
• Radha Avenue: Rs 1,100 per sq.ft (2024)
• Queen Elizabeth Street: Rs 1,100 per sq.ft (2024)
• Puthther street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Avenue?

The Sub Registrar Office that covers Ragavendra Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Chitlapakkam, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ragavendra Avenue?

The current guideline value of Ragavendra Avenue is Rs 2,750 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 2,750 per sq.ft in 2024.

What is the classification of Ragavendra Avenue?

Ragavendra Avenue is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

Where can I find the Sub Registrar Office for Ragavendra Avenue?

The Sub Registrar Office for Ragavendra Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Ragavendra Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.