Guideline Value for Raghava nagar Kuttai Street

Raghava nagar Kuttai Street guideline value

The current guideline value of Raghava nagar Kuttai 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 Kuttai Street has changed

The guideline value for Raghava nagar Kuttai Street has undergone several revisions over the years. In 2002, the guideline 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 700 per sq.ft in 2007, and then it further increased to Rs 4,000 per sq.ft in 2012. However, the value dropped to Rs 2,680 per sq.ft in 2017 before climbing to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft.

Examining the changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable rise of 49%. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 471%, while the rise from 2003 to 2007 was 218%. The value rose by 10% 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 guideline value for these streets is Rs 3,300 per sq.ft, making Raghava nagar Kuttai Street's 2024 figure above that median.

• Raghava Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar Mayana Road: 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 Kuttai 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, making the total cost for these fees Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghava nagar Kuttai Street?

The Sub Registrar Office that covers Raghava nagar Kuttai 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 a crucial factor during the registration of property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the local market conditions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Raghava nagar Kuttai Street?

The current guideline value of Raghava nagar Kuttai 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, showing an overall increase of 2100% over the years.

What is the land classification for Raghava nagar Kuttai Street?

Raghava nagar Kuttai Street is classified as Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for Raghava nagar Kuttai Street?

The Sub Registrar Office for Raghava nagar Kuttai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 3,96,000.