Guideline Value for Raghava Nagar 8th Street

Raghava Nagar 8th Street guideline value

The current guideline value for Raghava Nagar 8th 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 8th Street has changed

The guideline value for Raghava Nagar 8th Street has seen several revisions over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 220 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007. The value then increased to Rs 4,000 per sq.ft in 2012, but saw a decrease to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The overall change from 2002 to 2024 is an increase of 2100%.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was a considerable 300%, while the increase from 2003 to 2007 was 355%. The value experienced a 10% rise from 2002 to 2003. It is important to note that the register has no figure for this street in the years not listed.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for Raghava Nagar 8th Street is above this median.

• Raghava Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar Kuttai Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar Mayana Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Nagar 8th 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, bringing the total to 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 8th Street?

The Sub Registrar Office that covers Raghava Nagar 8th 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 a crucial factor when registering property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process adheres to the prescribed values set by the government.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Raghava Nagar 8th Street?

The current guideline value of Raghava Nagar 8th 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 the years.

What is the land classification for Raghava Nagar 8th Street?

Raghava Nagar 8th Street is classified as Commercial Class I Type - II.

What is the median guideline value in Moovarasampattu?

The median guideline value in Moovarasampattu is Rs 3,300 per sq.ft, with Raghava Nagar 8th Street's value being above this median.

Where is the Sub Registrar Office for Raghava Nagar 8th Street located?

The Sub Registrar Office for Raghava Nagar 8th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.