Guideline Value for Ragavendra Nagar

Ragavendra Nagar guideline value

The current guideline value of Ragavendra Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I 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 2002, the value was Rs 756 per sq.ft. It increased to Rs 78 per sq.ft in 2003, followed by a substantial rise to Rs 200 per sq.ft in 2007. The value then jumped to Rs 1,500 per sq.ft in 2012, before decreasing to Rs 1,005 per sq.ft in 2017. The most recent revisions show a value of Rs 1,500 per sq.ft in 2023, and the current rate is Rs 1,650 per sq.ft as of 2024.

Between the revisions, there were notable changes. From 2002 to 2003, there was a decrease of 90%. The value increased by 156% from 2003 to 2007, followed by a significant rise of 650% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value experienced a 49% increase from 2017 to 2023. The current revision from 2023 to 2024 reflects a 10% increase, leading to an overall increase of 118% from 2002 to 2024.

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 value is Rs 1,102 per sq.ft, positioning Ragavendra Nagar above this median.

• Ragavendra Nagar Part - 1: 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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value is 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, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendra Nagar?

The Sub Registrar Office that covers Ragavendra Nagar 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 information.

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

The guideline value plays a crucial role during property registration in Puzhal. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must adhere to the guideline value set by the registration department to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Ragavendra Nagar?

The current guideline value of Ragavendra Nagar 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 significantly, starting from Rs 756 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 118% over the period.

What is the land classification of Ragavendra Nagar?

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

Where can I find the registration office for Ragavendra Nagar?

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

How are stamp duty and registration fees calculated in Ragavendra Nagar?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total cost of Rs 1,48,500 for stamp duty and registration fees.