Guideline Value for Ragavendra Nagar Part - 1

Ragavendra Nagar Part - 1 guideline value

The current guideline value of Ragavendra Nagar Part - 1 is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village, under the jurisdiction of the Redhills SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Ragavendra Nagar Part - 1 has changed

The guideline value for Ragavendra Nagar Part - 1 has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, it decreased to Rs 1,005 per sq.ft in 2017, a reduction of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and further increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% growth.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, placing Ragavendra Nagar Part - 1 above this median at Rs 1,650 per sq.ft.

• Ragavendra Nagar: Rs 1,650 per sq.ft (2024)
• Raghavendra Nagar Part-II: Rs 1,650 per sq.ft (2024)
• Puzhal Samathuvapuram: Rs 1,102 per sq.ft (2024)
• Punitha Anthoniyar Street: Rs 2,420 per sq.ft (2024)
• Punitha Anthoniar Road: Rs 2,420 per sq.ft (2024)
• Punitha Anthoniar Main Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar Part - 1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Nagar Part - 1?

The Sub Registrar Office covering Ragavendra Nagar Part - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Puzhal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transfers.

During the registration process, the higher of the guideline value and the sale price is considered for calculating these fees. This ensures that the transaction reflects the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar Part - 1?

The current guideline value of Ragavendra Nagar Part - 1 is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What is the registration office for Ragavendra Nagar Part - 1?

The registration office for Ragavendra Nagar Part - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate the fees using the stamp duty and registration fee calculator.