Guideline Value for Ragavendra nagar

Ragavendra nagar guideline value

The current guideline value of Ragavendra nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Vedanareyanapuram village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Ragavendra nagar has changed

The guideline value for Ragavendra nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 123 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 388%. However, in 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The most recent revisions in 2023 and 2024 show no change, remaining at Rs 600 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 600 per sq.ft. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 388% in the guideline value for Ragavendra nagar.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO, with guideline values ranging from Rs 400 to Rs 2,050 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which matches the current guideline value of Ragavendra nagar.

• Ragavan Nagar: Rs 500 per sq.ft (2024)
• Ragavendra nagar Ext: Rs 600 per sq.ft (2024)
• Ragava Nagar Extension-II: Rs 900 per sq.ft (2024)
• Ponniyamman Nagar: Rs 500 per sq.ft (2024)
• Perumal Nagar Ext: Rs 500 per sq.ft (2024)
• Perumal Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ragavendra nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ragavendra nagar?

The Sub Registrar Office that covers Ragavendra nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vedanareyanapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable duties, ensuring that all transactions are recorded at a fair and standardized rate, as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ragavendra nagar?

The current guideline value of Ragavendra nagar is Rs 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 123 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, with notable fluctuations in between, including a decrease in 2017.

What is the land classification of Ragavendra nagar?

Ragavendra nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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

The Chengleput Joint I Sub Registrar Office covers Ragavendra nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at 7%.