Guideline Value for Ragavendra Nagar

Ragavendra Nagar guideline value

The current guideline value of Ragavendra Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Arambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Ragavendra Nagar has changed

The guideline value for Ragavendra Nagar has seen several revisions over the years. In 2007, the value was Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The most recent revisions show that the guideline value remained at Rs 600 per sq.ft in both 2023 and 2024, indicating no change from the previous year.

Looking at the changes between these revisions, from 2007 to 2012, there was a remarkable increase of 275%. The value then decreased by 33% from 2012 to 2017. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft, with the median being Rs 600 per sq.ft. Ragavendra Nagar's 2024 guideline value is equal to this median.

• Sasikala Nagar: Rs 600 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 600 per sq.ft (2024)
• S.G.R Nagar: Rs 800 per sq.ft (2024)
• Shantha Nagar: Rs 600 per sq.ft (2024)
• S.K.S Avenue: Rs 500 per sq.ft (2024)
• Sri Ellai Amman Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Nagar?

The Sub Registrar Office that covers Ragavendra Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential component in the registration process when buying or selling property in Arambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 160 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017. It remained at Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification for Ragavendra Nagar?

The land classification for Ragavendra Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Ragavendra Nagar?

The Sub Registrar Office for Ragavendra Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000, along with a registration fee of Rs 12,000, totaling Rs 54,000.