Guideline Value for Ragavendra Theru

Ragavendra Theru guideline value

The current guideline value of Ragavendra Theru is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ragavendra Theru has changed

The guideline value for Ragavendra Theru has seen several revisions over the years. In 2012, the guideline value was Rs 2,100 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,407 per sq.ft. Following this, the value increased significantly to Rs 2,100 per sq.ft in the 2023 revision, and then rose again to Rs 2,310 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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. The median guideline value for these streets is Rs 2,310 per sq.ft, which is the same as the current value for Ragavendra Theru.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total cost for stamp duty and registration fees to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ragavendra Theru?

The Ragavendra Theru area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301. Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Perungalathur. It serves as the benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, the higher of the guideline value or the sale price is considered for tax calculations. This ensures that the government receives the appropriate revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Ragavendra Theru?

The current guideline value of Ragavendra Theru is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Ragavendra Theru?

Ragavendra Theru is classified as Residential Class II Type - I.

What is the registration office for Ragavendra Theru?

The registration office for Ragavendra Theru is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 23,10,000 would incur a stamp duty of Rs 1,61,700.