Guideline Value for Ragavendra Street

Ragavendra Street guideline value

The current guideline value of Ragavendra Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Ragavendra Street has changed

Looking at the historical revisions, the guideline value for Ragavendra Street has seen several changes. The 2012 revision set the value at Rs 3,700 per sq.ft, which was then reduced to Rs 2,479 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,700 per sq.ft in the 2023 revision and further to Rs 4,000 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. The overall change from 2012 to 2024 shows an increase of 8%.

The register has no figures for the years 2002, 2003, and 2007. The 2023 revision saw a 49% increase from the 2017 revision, while the 2012 to 2017 revision experienced a decrease of 33%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, placing Ragavendra Street's 2024 figure above this median.

• Ragavendra samy Street: Rs 4,000 per sq.ft (2024)
• Rail Vihar Phase -II A: Rs 1,800 per sq.ft (2024)
• P.V. city: Rs 3,600 per sq.ft (2024)
• Pushpammal Street: Rs 4,600 per sq.ft (2024)
• Raja moorthy Street: Rs 4,000 per sq.ft (2024)
• Prithvipakkam West Park street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value would be Rs 40,00,000. The stamp duty at 7% would amount to Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total fees together to Rs 3,60,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Street?

The Sub Registrar Office that covers Ragavendra Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ragavendra Street?

The current guideline value of Ragavendra Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Ragavendra Street?

For a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000, and the registration fee would be Rs 80,000, totaling Rs 3,60,000.

Which Sub Registrar Office covers Ragavendra Street?

The Ambattur Sub Registrar Office covers Ragavendra Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Ragavendra Street?

Ragavendra Street is classified as Residential Special Type - II.