Guideline Value for Ragavendra Nagar

Ragavendra Nagar guideline value

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

How the guideline value of Ragavendra Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly by 62%, bringing it to the current rate of Rs 1,300 per sq.ft.

The register does not contain figures for the years 2002, 2003, 2007, and 2023 for Ragavendra Nagar. Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Ragavendra Nagar's 2024 figure is below this median.

• Ragavendra Avenu, Maduramettupalayam (Ward-30): Rs 1,300 per sq.ft (2024)
• Ragavendra Nagar Annexe: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. 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 information.

Which Sub Registrar Office covers Ragavendra Nagar?

The Sub Registrar Office covering Ragavendra Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during 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 transaction reflects a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the registration. This ensures compliance with legal requirements and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar 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. This represents a 62% increase from 2017 to 2024 and an overall increase of 8% from 2012 to 2024.

What is the land classification of Ragavendra Nagar?

Ragavendra Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the registration fees for property in Ragavendra Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. The fees are based on the higher of the guideline value or the sale price.

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

The Madhavaram Sub Registrar Office covers Ragavendra Nagar and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO through the provided link.