Guideline Value for Ragavendra Avenue

Ragavendra Avenue guideline value

The current guideline value of Ragavendra Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of Ragavendra Avenue has changed

Over the years, the guideline value of Ragavendra Avenue has seen significant changes. In 2007, the value was Rs 200 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, between 2012 and 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The value then rose again to Rs 1,800 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 1,980 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Ragavendra Avenue's 2024 guideline value is below this median.

• Ragava Street: Rs 1,320 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,980 per sq.ft (2024)
• Ragavendra Nagar Extn.: Rs 1,980 per sq.ft (2024)
• Ragavendra Theru: Rs 2,310 per sq.ft (2024)
• Rajaji Street: Rs 2,640 per sq.ft (2024)
• Rajamanickam Theru: Rs 2,640 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 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, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that 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 Ragavendra Avenue?

The Sub Registrar Office that covers Ragavendra Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

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. This ensures that the government receives the 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 1,980 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 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 890% over the years.

What are the stamp duty and registration fees for property in Ragavendra Avenue?

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 Ragavendra Avenue?

The Padappai Sub Registrar Office handles registrations for Ragavendra Avenue, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Ragavendra Avenue?

Ragavendra Avenue is classified as Residential Class III Type - I, which is important for understanding the zoning and permissible uses of the land.