Guideline Value for Raghavachari Street

Raghavachari Street guideline value

The current guideline value of Raghavachari Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village under the Sembiam SRO, and the land classification is Mixed Special Type - I.

How the guideline value of Raghavachari Street has changed

The guideline value for Raghavachari Street has seen several revisions over the years. In the 2002 revision, the value was Rs 565 per sq.ft, which increased to Rs 613 per sq.ft in 2003. Following that, the value rose significantly to Rs 900 per sq.ft in 2007, and then jumped to Rs 3,500 per sq.ft in the 2012 revision. However, it decreased to Rs 2,345 per sq.ft in 2017, before climbing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft. There are no figures available for the years not mentioned in this list.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +8%. The value then rose by +47% from 2003 to 2007. The 2007 to 2012 period saw a decrease of -33%. A significant increase of +289% occurred from 2012 to 2017, followed by a +49% rise from 2017 to 2023. The latest revision from 2023 to 2024 reflects a +9% increase. Overall, from 2002 to 2024, the guideline value has increased by +573%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Raghavachari Street's 2024 figure is above this median.

• Raghavan Street: Rs 3,000 per sq.ft (2024)
• Raghavan Street (George Colony): Rs 3,500 per sq.ft (2024)
• Puzhal Munuswamy Mudali Street: Rs 1,900 per sq.ft (2024)
• Pudu Street: Rs 1,900 per sq.ft (2024)
• Prakash Street: Rs 3,600 per sq.ft (2024)
• Prakash Avenue: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavachari Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Raghavachari Street?

The Sub Registrar Office that covers Raghavachari Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the statutory value of the property. This value is essential for calculating the associated costs, including stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Raghavachari Street?

The current guideline value of Raghavachari Street is Rs 3,800 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 565 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +573% over this period.

What is the land classification for Raghavachari Street?

The land classification for Raghavachari Street is Mixed Special Type - I, indicating its varied use and potential for development.

What are the stamp duty and registration fees for property in Raghavachari Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Raghavachari Street located?

The Sub Registrar Office covering Raghavachari Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.