Guideline Value for Raghava Nagar 9th Street

Raghava Nagar 9th Street guideline value

The current guideline value of Raghava Nagar 9th 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 9th Street has changed

Starting from the earliest revision, the guideline value for Raghava Nagar 9th Street was Rs 200 per sq.ft in 2002. This increased to Rs 220 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 700 per sq.ft in 2007, which was a 218% change. Following that, the value rose dramatically to Rs 4,000 per sq.ft in 2012, reflecting a 471% increase. However, there was a decrease to Rs 2,680 per sq.ft in 2017, which was a 33% drop.

In 2023, the guideline value increased to Rs 4,000 per sq.ft, a 49% rise from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2023. The overall change from 2002 to 2024 is an increase of 2,100%.

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 value for these streets is Rs 3,300 per sq.ft, placing Raghava Nagar 9th Street above this median.

• Raghava Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar Kuttai Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar Mayana Road: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 6th 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 9th 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 be 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Raghava Nagar 9th Street?

The Sub Registrar Office that covers Raghava Nagar 9th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that both parties are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Raghava Nagar 9th Street?

The current guideline value of Raghava Nagar 9th 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 2,100%.

What is the land classification for Raghava Nagar 9th Street?

The land classification for Raghava Nagar 9th Street is Commercial Class I Type - II.

Where can I find the Alandur Sub Registrar Office?

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

How is stamp duty calculated for properties in Raghava Nagar 9th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,08,000.