Guideline Value for Ragavendra Nagar 1st Street

Ragavendra Nagar 1st Street guideline value

The current guideline value of Ragavendra Nagar 1st Street is Rs 2,700 per sq.ft. 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 Ragavendra Nagar 1st Street has changed

The guideline value for Ragavendra Nagar 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Ragavendra Nagar 1st Street.

• Ragavendra Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Ragavan Street: Rs 2,700 per sq.ft (2024)
• Ragavan Nagar: Rs 2,700 per sq.ft (2024)
• Ragavan Colony: Rs 2,700 per sq.ft (2024)
• Raghavan Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Raghavan Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ragavendra Nagar 1st Street?

The Sub Registrar Office that covers Ragavendra Nagar 1st 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 when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar 1st Street?

The current guideline value of Ragavendra Nagar 1st 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Ragavendra Nagar 1st Street?

Ragavendra Nagar 1st Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Ragavendra Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.