Guideline Value for Raghava Nagar Mayana Road

Raghava Nagar Mayana Road guideline value

The current guideline value of Raghava Nagar Mayana Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Moovarasampattu village under the Alandur SRO, and the land classification is Commercial Class I Type - II.

How the guideline value of Raghava Nagar Mayana Road has changed

The guideline value for Raghava Nagar Mayana Road 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 surged to Rs 700 per sq.ft in 2007, reflecting a substantial increase of 218%. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, a remarkable increase of 471%. However, it decreased to Rs 2,680 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2100%. There are no figures available for revisions in years not mentioned in the register.

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 Mayana Road is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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 fees 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 details.

Which Sub Registrar Office covers Raghava Nagar Mayana Road?

The Sub Registrar Office that covers Raghava Nagar Mayana Road 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

When buying or selling property in Moovarasampattu, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs associated with property transactions. Ensuring compliance with the guideline value helps in smooth registration processes at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Raghava Nagar Mayana Road?

The current guideline value of Raghava Nagar Mayana Road 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Raghava Nagar Mayana Road?

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

What is the land classification for Raghava Nagar Mayana Road?

The land classification for Raghava Nagar Mayana Road is Commercial Class I Type - II.