Guideline Value for Ragavendra Nagar 2nd Street

Ragavendra Nagar 2nd Street guideline value

The current guideline value of Ragavendra Nagar 2nd Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Ragavendra Nagar 2nd Street has changed

The guideline value for Ragavendra Nagar 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017. The next revision in 2023 saw the value increase to Rs 2,200 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 2,400 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 9% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing Ragavendra Nagar 2nd Street's 2024 figure above this median.

• Ragavendra Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Ragavendra Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Ragavendra Nagar: Rs 2,400 per sq.ft (2024)
• Radeshyam Avenue: Rs 2,400 per sq.ft (2024)
• Puthukoil Street: Rs 850 per sq.ft (2024)
• Purananooru Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for these fees would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Nagar 2nd Street?

The Sub Registrar Office that covers Ragavendra Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When buyers and sellers engage in a transaction, they must consider the guideline value to ensure compliance with local regulations. This value is essential for calculating the legal fees associated with property transfer, making it a vital aspect of the buying and selling process.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar 2nd Street?

The current guideline value of Ragavendra Nagar 2nd Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Ragavendra Nagar 2nd Street?

The land classification for Ragavendra Nagar 2nd Street is Residential Special Type - II.

What are the registration fees for property transactions?

For a property valued at the guideline value, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Ragavendra Nagar 2nd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.