Guideline Value for Raghavan Colony 1st Street (VP)

Raghavan Colony 1st Street (VP) guideline value

The current guideline value for Raghavan Colony 1st Street (VP) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Raghavan Colony 1st Street (VP) has changed

The guideline value for Raghavan Colony 1st Street (VP) has seen several revisions over the years. The earliest recorded value was Rs 1,860 per sq.ft in 2007, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a change of +223%. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, reflecting a +10% increase from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by +255%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which means Raghavan Colony 1st Street (VP) is above this median.

• Raghavan Colony 2nd Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony 3rd Cross Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony Main Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony W.M. (Opp. Adikesava perumal Koil): Rs 6,600 per sq.ft (2024)
• Raghavan Street (JPT): Rs 4,100 per sq.ft (2024)
• Raghava Reddy Colony 1st Cross Street (AN): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Colony 1st Street (VP)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Raghavan Colony 1st Street (VP)?

The Sub Registrar Office that covers Raghavan Colony 1st Street (VP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions within Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on either the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value.

Frequently asked questions

What is the current guideline value of Raghavan Colony 1st Street (VP)?

The current guideline value of Raghavan Colony 1st Street (VP) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,860 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of +255% over the years.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Raghavan Colony 1st Street (VP)?

The Ashok Nagar Sub Registrar Office handles registrations for Raghavan Colony 1st Street (VP), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there any years without a guideline value figure for this street?

Yes, the register has no figures for Raghavan Colony 1st Street (VP) for the years 2002, 2003, 2017, and 2023.