Guideline Value for Raghava Nagar

Raghava Nagar guideline value

The current guideline value of Raghava Nagar, located in Hastinapuram village, is Rs 2,970 per sq.ft. This value is set by the Pallavaram SRO and falls under the Residential Class I Type - I land classification. The guideline value is effective from 1 July 2024.

How the guideline value of Raghava Nagar has changed

The guideline value of Raghava Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 713 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 279%. However, this value decreased to Rs 1,809 per sq.ft in 2017, reflecting a decline of 33%. The value then increased substantially to Rs 2,700 per sq.ft in 2023, and most recently, it rose to Rs 2,970 per sq.ft in 2024, an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 317%.

Guideline values in Hastinapuram

Hastinapuram village has a range of guideline values across its 277 streets under the Pallavaram SRO, with values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, which is equal to the current value of Raghava Nagar.

• Ragavayar Street: Rs 2,970 per sq.ft (2024)
• Ragava Iyer 1 And 2nd Street: Rs 2,970 per sq.ft (2024)
• Purusothaman Nagar 5th Main Road: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 4th Main Road: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 4th Cross 2nd Street: Rs 4,400 per sq.ft (2024)
• Rajabather Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Raghava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost to Rs 2,67,300. 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?

The Sub Registrar Office that covers Raghava Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raghava Nagar?

The current guideline value of Raghava Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 713 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing an overall increase of 317% over the years.

What are the other streets in Hastinapuram with similar guideline values?

Other streets in Hastinapuram with a guideline value of Rs 2,970 per sq.ft include Ragavayar Street and Ragava Iyer 1 And 2nd Street.

What is the stamp duty rate for property in Raghava Nagar?

The stamp duty rate for property in Raghava Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Raghava Nagar?

The Sub Registrar Office for Raghava Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details online.