Guideline Value for Raghava Nagar 5th Street

Raghava Nagar 5th Street guideline value

The current guideline value of Raghava Nagar 5th 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 Street has changed

The guideline value for Raghava Nagar 5th Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 200 per sq.ft. It increased to Rs 220 per sq.ft in 2003, followed by a significant rise to Rs 700 per sq.ft in 2007. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest revision in 2024 has brought it to Rs 4,400 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. Between 2017 and 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while it rose dramatically by 471% from 2007 to 2012. The increase from 2003 to 2007 was 218%, and there was a 10% rise from 2002 to 2003. 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 that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Raghava Nagar 5th Street above this median.

• Raghava Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Nagar 5th 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, 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 on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raghava Nagar 5th Street?

The Raghava Nagar 5th Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Moovarasampattu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is being registered, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the appropriate amount is paid during the registration process.

Frequently asked questions

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

The current guideline value of Raghava Nagar 5th 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, marking an overall increase of 2100% over the years.

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

Raghava Nagar 5th Street is classified as Commercial Class I Type - II according to the land classification records.

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 Street?

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.