Guideline Value for Ragavendra Street

Ragavendra Street guideline value

The current guideline value of Ragavendra Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ragavendra Street has changed

Over the years, the guideline value of Ragavendra Street has seen several revisions. The earliest recorded figure is from 2007, which was Rs 400 per sq.ft. This value increased significantly to Rs 2,200 per sq.ft in 2012, marking a 450% rise. However, in 2017, the value dropped to Rs 1,474 per sq.ft, a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,200 per sq.ft, and the latest revision in 2024 has set it at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for Ragavendra Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Ragavendra Street's 2024 guideline value is above this median.

• Ragul Street (Imanuel Nagar): Rs 2,200 per sq.ft (2024)
• Radha krishnan Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Rajagopal Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Puthur highways: Rs 2,200 per sq.ft (2024)
• Pushpa Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pushpa Nagar: Rs 1,600 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 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. The total cost for stamp duty and registration fees together would be Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, the buyer must ensure that the guideline value is accurately reflected in the registration documents. This ensures compliance with local regulations and helps avoid any legal complications in the future.

Frequently asked questions

What is the current guideline value of Ragavendra Street?

The current guideline value of Ragavendra Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, an overall increase of 500%. The most recent change was a 9% increase from Rs 2,200 per sq.ft in 2023.

What is the land classification for Ragavendra Street?

Ragavendra Street is classified as Residential Special Type - I under the land classification guidelines.

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

The Sub Registrar Office for 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.

How is the stamp duty calculated for properties in Ragavendra Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,68,000 at 7%.