Guideline Value for Raghava Nagar 4th Street

Raghava Nagar 4th Street guideline value

The current guideline value of Raghava Nagar 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Raghava Nagar 4th Street has changed

The guideline value for Raghava Nagar 4th 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 rose substantially to Rs 700 per sq.ft in 2007, reflecting a 218% increase. By 2012, the value was Rs 4,000 per sq.ft, indicating a remarkable 471% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by a 10% rise to the current value of Rs 4,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 2100%. There are no figures available for the revisions in years other than those listed.

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 4th Street's 2024 figure above this median.

• Raghava Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 3rd Main road: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghava Nagar 4th Street?

The Sub Registrar Office that covers Raghava Nagar 4th 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 in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raghava Nagar 4th Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 2100% over this period.

What is the land classification for Raghava Nagar 4th Street?

The land classification for Raghava Nagar 4th Street is Commercial Class I Type - II.

Where can I find the registration office for Raghava Nagar 4th Street?

The registration office for Raghava Nagar 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.