Guideline Value for Ragavendra Nagar Annexe

Ragavendra Nagar Annexe guideline value

The current guideline value of Ragavendra Nagar Annexe is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Ragavendra Nagar Annexe has changed

The guideline value for Ragavendra Nagar Annexe has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the most recent revision in 2024 increased the guideline value to Rs 1,300 per sq.ft, reflecting a significant increase of 62% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, placing Ragavendra Nagar Annexe's 2024 figure below that median.

• Ragavendra Nagar: Rs 1,300 per sq.ft (2024)
• Ragavendra Avenu, Maduramettupalayam (Ward-30): Rs 1,300 per sq.ft (2024)
• Raghavendra Nagar (Ward-11): Rs 1,300 per sq.ft (2024)
• P.V.N. Nagar: Rs 1,600 per sq.ft (2024)
• Pushpambal st (Ward No.1): Rs 1,300 per sq.ft (2024)
• Punniyam Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Ragavendra Nagar Annexe?

The Ragavendra Nagar Annexe falls under 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 Madhavaram

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value as it impacts the financial obligations involved in the transaction. The registration process will require adherence to the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar Annexe?

The current guideline value of Ragavendra Nagar Annexe is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Ragavendra Nagar Annexe?

The land classification for Ragavendra Nagar Annexe is Residential Class III Type - I.

Where can I find the registration office for Ragavendra Nagar Annexe?

The registration office covering Ragavendra Nagar Annexe is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Ragavendra Nagar Annexe?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.