Guideline Value for Raghavan Colony Main Street (VP)

Raghavan Colony Main Street (VP) guideline value

The current guideline value of Raghavan Colony Main 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 Main Street (VP) has changed

Over the years, the guideline value of Raghavan Colony Main Street (VP) has seen significant changes. The register shows that in 2007, the guideline value was Rs 1,860 per sq.ft. This figure increased to Rs 6,000 per sq.ft in the 2012 revision, marking a substantial increase of 223%. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, which is a 10% increase from the 2012 figure.

It is important to note that the register does not provide figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 255%.

Guideline values in Kodambakkam

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

• Raghavan Colony 3rd Cross 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 Colony 2nd Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony 1st Street (VP): 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 Main 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, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Raghavan Colony Main Street (VP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for further assistance.

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

When buying or selling property in Kodambakkam, the guideline value serves as a benchmark for determining the stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property transactions.

The guideline value is used during the registration process to ensure that the property is valued appropriately for tax purposes. Buyers should always confirm the current guideline value before proceeding with a transaction to avoid any unexpected costs.

Frequently asked questions

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

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

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 1,860 per sq.ft to Rs 6,600 per sq.ft in 2024, which is an overall increase of 255%.

What are the stamp duty and registration fees for property on this street?

For a 1,000 sq.ft plot 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 property registrations for Raghavan Colony Main Street (VP)?

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

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Raghavan Colony Main Street (VP) being above this median at Rs 6,600 per sq.ft.