Guideline Value for Ragavendra Nagar

Ragavendra Nagar guideline value

The current guideline value for Ragavendra Nagar 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. The land classification for this street is Residential Class III 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 set at Rs 200 per sq.ft, which then increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The next revision in 2023 saw the value rise to Rs 1,800 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Ragavendra Nagar is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. This brings the total cost for stamp duty and registration to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ragavendra Nagar?

The Sub Registrar Office that covers Ragavendra Nagar is 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 in property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value for Ragavendra Nagar?

The current guideline value for Ragavendra Nagar 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 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 properties in Ragavendra Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Ragavendra Nagar?

The Padappai Sub Registrar Office handles registrations for Ragavendra Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Ragavendra Nagar?

The land classification for Ragavendra Nagar is Residential Class III Type - I, indicating its suitability for residential purposes.