Guideline Value for Ragavendra Nagar 3rd Street

Ragavendra Nagar 3rd Street guideline value

The current guideline value of Ragavendra Nagar 3rd 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 3rd Street has changed

The guideline value for Ragavendra Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in the 2023 revision, and the latest revision in 2024 has raised it to Rs 2,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024. The jump from 2017 to 2023 was substantial at 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, making the current value of Ragavendra Nagar 3rd Street above that median.

• Ragavendra Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Ragavendra Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendra Nagar 3rd Street?

The Sub Registrar Office that covers Ragavendra Nagar 3rd 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 is an essential factor when buying or selling property in Rajakilpakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, it is crucial to refer to the guideline value to ensure compliance with legal requirements. This value helps in establishing a fair transaction between the buyer and seller, ensuring that the property is valued appropriately for registration purposes.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar 3rd Street?

The current guideline value of Ragavendra Nagar 3rd 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 3rd Street?

The land classification for Ragavendra Nagar 3rd Street is Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Ragavendra Nagar 3rd 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 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.