Guideline Value for Ragavendra avenue

Ragavendra avenue guideline value

The current guideline value of Ragavendra avenue is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Puthagaram village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ragavendra avenue has changed

Over the years, the guideline value of Ragavendra avenue has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 7% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, placing Ragavendra avenue's 2024 guideline value below the median.

• Ragavan Nagar: Rs 1,600 per sq.ft (2024)
• Purusothaman Nagar Extn: Rs 3,000 per sq.ft (2024)
• Purusothaman Nagar: Rs 3,000 per sq.ft (2024)
• Rajammal Nager: Rs 1,900 per sq.ft (2024)
• Raj Nagar: Rs 1,600 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. 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 further assistance.

Which Sub Registrar Office covers Ragavendra avenue?

The Ragavendra avenue falls under 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 Puthagaram

The guideline value plays a crucial role when buying or selling property in Puthagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the sale process.

Frequently asked questions

What is the current guideline value of Ragavendra avenue?

The current guideline value of Ragavendra avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Ragavendra avenue?

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

Where is the Ambattur Sub Registrar Office located?

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

How is stamp duty calculated for properties in Ragavendra avenue?

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 1,12,000.