Guideline Value for Ragavendra Nagar

Ragavendra Nagar guideline value

The current guideline value of Ragavendra Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Ragavendra Nagar has changed

The guideline value for Ragavendra Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was later reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest 2024 revision raised it further to Rs 2,400 per sq.ft.

Between the revisions, the value increased by 49% from 2017 to 2023 and by 9% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, leading to a total of Rs 2,16,000. It is important to note that 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?

The Sub Registrar Office covering Ragavendra Nagar 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 a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency in property transactions and helps in avoiding undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar 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 back 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 of Ragavendra Nagar?

Ragavendra Nagar is classified as Residential Special Type - II.

Where is the Selaiyur Sub Registrar Office located?

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?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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%.