Guideline Value for Raghava Nagar 5th Cross Street

Raghava Nagar 5th Cross Street guideline value

The current guideline value for Raghava Nagar 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village, under the Alandur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Raghava Nagar 5th Cross Street has changed

The guideline value for Raghava Nagar 5th Cross 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. By 2007, the value jumped to Rs 700 per sq.ft, reflecting a substantial increase of 218%. The value then reached Rs 4,000 per sq.ft in 2012, a decrease of 33% from the previous revision. In 2017, it rose again to Rs 2,680 per sq.ft, and then it saw a significant increase of 49% to Rs 4,000 per sq.ft in 2023.

The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 2100%.

Guideline values in Moovarasampattu

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

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

Stamp duty and registration fee for property in Raghava Nagar 5th Cross Street

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

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

Which Sub Registrar Office covers Raghava Nagar 5th Cross Street?

The Sub Registrar Office that covers Raghava Nagar 5th Cross 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 details.

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

The guideline value is an essential factor in property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value must be considered to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is properly documented and taxed according to the established guidelines.

Frequently asked questions

What is the current guideline value for Raghava Nagar 5th Cross Street?

The current guideline value for Raghava Nagar 5th Cross 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 increased from Rs 200 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing significant changes across various revisions.

What is the land classification for Raghava Nagar 5th Cross Street?

Raghava Nagar 5th Cross Street is classified as Commercial Class I Type - II.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Raghava Nagar 5th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.