Guideline Value for Raghavan Nagar 2nd Street

Raghavan Nagar 2nd Street guideline value

The current guideline value of Raghavan Nagar 2nd Street is Rs 2,700 per sq.ft. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Raghavan Nagar 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded a value of Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

Notably, there are no figures available for Raghavan Nagar 2nd Street in the revisions of 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making Raghavan Nagar 2nd Street's 2024 figure equal to this median.

• Raghavan Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Raghavan Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Ragavendra Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Ragavendra Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Rahman Nagar: Rs 2,700 per sq.ft (2024)
• Ragavan Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raghavan Nagar 2nd Street?

The Sub Registrar Office that covers Raghavan Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the established values for the area.

Frequently asked questions

What is the current guideline value of Raghavan Nagar 2nd Street?

The current guideline value of Raghavan Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase of 8% from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. There was no change in the value from 2012 to 2023.

What is the land classification for Raghavan Nagar 2nd Street?

Raghavan Nagar 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Raghavan Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.