Guideline Value for Raghavan Colony 3rd Cross Street (VP)

Raghavan Colony 3rd Cross Street (VP) guideline value

The current guideline value for Raghavan Colony 3rd Cross 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 3rd Cross Street (VP) has changed

The guideline value for Raghavan Colony 3rd Cross Street (VP) has seen significant changes over the years. In the 2007 revision, the value was Rs 1,860 per sq.ft, which increased to Rs 6,000 per sq.ft in the 2012 revision, marking a substantial increase 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 the 2007 revision to the 2024 revision, the guideline value has increased by 255%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values 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, indicating that Raghavan Colony 3rd Cross Street (VP) is above this median.

• Raghavan Colony 2nd Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony Main Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony 1st 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 3rd Cross 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 amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raghavan Colony 3rd Cross Street (VP)?

The Sub Registrar Office that covers Raghavan Colony 3rd Cross Street (VP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Raghavan Colony 3rd Cross Street (VP)?

The current guideline value for Raghavan Colony 3rd Cross 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%.

What is the land classification for Raghavan Colony 3rd Cross Street (VP)?

The land classification for Raghavan Colony 3rd Cross Street (VP) is Residential Class II Type - II.

Where is the Sub Registrar Office for Raghavan Colony 3rd Cross Street (VP) located?

The Sub Registrar Office for Raghavan Colony 3rd Cross Street (VP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in Kodambakkam?

Stamp duty in Kodambakkam is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during property transactions.