Guideline Value for Ragavendra Nagar Extn.

Ragavendra Nagar Extn. guideline value

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

How the guideline value of Ragavendra Nagar Extn. has changed

Since the 2007 revision, the guideline value 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, it then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value saw a substantial rise to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,980 per sq.ft in 2024, which is a 10% rise 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%. The revisions reflect fluctuations in property values over the years, indicating changes in the local real estate landscape.

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. The median value for these streets is Rs 2,310 per sq.ft, placing Ragavendra Nagar Extn.'s current value below this median.

• Ragavendra Theru: Rs 2,310 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,980 per sq.ft (2024)
• Ragavendra Avenue: Rs 1,980 per sq.ft (2024)
• Ragava Street: Rs 1,320 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 Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, totals Rs 1,38,600, while the registration fee at 2% comes to Rs 39,600. Therefore, the total cost for these fees together is Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ragavendra Nagar Extn.?

The Ragavendra Nagar Extn. is covered by 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 is a crucial factor during property registration in Perungalathur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value is set by the Registration Department and reflects the market conditions of the area.

When buying or selling property, it is essential to ensure that the transaction is compliant with the guideline value. This helps in avoiding any legal issues during the registration process and ensures that all fees are calculated accurately based on the established rates.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar Extn.?

The current guideline value of Ragavendra Nagar Extn. 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, reflecting an overall increase of 890% over the years.

What are the stamp duty and registration fees for property in Ragavendra Nagar Extn.?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000. The stamp duty is Rs 1,38,600 and the registration fee is Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office is responsible for Ragavendra Nagar Extn.?

The Padappai Sub Registrar Office covers Ragavendra Nagar Extn., located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors including land classification and market conditions in the area.