Guideline Value for Raghava Nagar 12th Street

Raghava Nagar 12th Street guideline value

The current guideline value of Raghava Nagar 12th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village under the Alandur SRO, classified as Commercial Class I Type - II.

How the guideline value of Raghava Nagar 12th Street has changed

The guideline value for Raghava Nagar 12th Street has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 220 per sq.ft in 2003, marking a 10% rise. The value then saw a substantial increase to Rs 700 per sq.ft in 2007, representing a 218% change. Following that, the value rose dramatically to Rs 4,000 per sq.ft in 2012, a 471% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value surged to Rs 4,000 per sq.ft, a remarkable 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2100%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Raghava Nagar 12th Street above this median.

• Raghava Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 1st Main road: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 1st Main road Extension: Rs 4,400 per sq.ft (2024)
• Raghava nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Nagar 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged based 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 Raghava Nagar 12th Street?

The Sub Registrar Office that covers Raghava Nagar 12th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Moovarasampattu. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market standards as determined by the government.

When buying or selling property, it is essential to understand that the guideline value may influence the overall costs associated with the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated on the higher of the guideline value or the sale price, which can significantly affect the total expenses incurred during the purchase.

Frequently asked questions

What is the current guideline value of Raghava Nagar 12th Street?

The current guideline value of Raghava Nagar 12th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 4,400 per sq.ft in 2024, representing a total increase of 2100%.

What is the land classification of Raghava Nagar 12th Street?

Raghava Nagar 12th Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Raghava Nagar 12th Street?

The Sub Registrar Office for Raghava Nagar 12th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 44,00,000, leading to specific fees based on that amount.