Guideline Value for Ragavendra Road

Ragavendra Road guideline value

The current guideline value of Ragavendra Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ragavendra Road has changed

The guideline value for Ragavendra Road has seen several revisions over the years. The 2012 revision set the rate at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and finally rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current value of Ragavendra Road above that median.

• Ragavenra salai: Rs 3,300 per sq.ft (2024)
• Ragavendra Avenue: Rs 2,750 per sq.ft (2024)
• Radhakrishna St: Rs 1,650 per sq.ft (2024)
• Radha Avenue: Rs 1,100 per sq.ft (2024)
• Queen Elizabeth Street: Rs 1,100 per sq.ft (2024)
• Puthther street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Road?

The Sub Registrar Office that covers Ragavendra Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for completing the registration process. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ragavendra Road?

The current guideline value of Ragavendra Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the other streets in Chitlapakkam with their guideline values?

Other streets in Chitlapakkam include Ragavenra salai at Rs 3,300 per sq.ft, Ragavendra Avenue at Rs 2,750 per sq.ft, and Radhakrishna St at Rs 1,650 per sq.ft, among others.

What is the stamp duty rate for properties in Ragavendra Road?

The stamp duty rate for properties in Ragavendra Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Ragavendra Road?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ragavendra Road, located at No.26, mes Road, East Tambaram, Chennai-600059.