Guideline Value for Raghavan Nagar

Raghavan Nagar guideline value

The current guideline value of Raghavan Nagar, located in Palavayal village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Raghavan Nagar has changed

The guideline value for Raghavan Nagar has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 300 per sq.ft. This increased to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 47%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,200 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the current guideline value for Raghavan Nagar.

• Poombugar Nagar: Rs 440 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 440 per sq.ft (2024)
• Painthamil Nagar: Rs 440 per sq.ft (2024)
• New Sun Garden Phase - I: Rs 440 per sq.ft (2024)
• New Star City-III: Rs 700 per sq.ft (2024)
• New Star City-II: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghavan Nagar?

The Sub Registrar Office that covers Raghavan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Palavayal. 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 is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Raghavan Nagar?

The current guideline value of Raghavan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Raghavan Nagar?

The registration office for Raghavan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Raghavan Nagar?

Stamp duty in Raghavan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

What is the land classification for Raghavan Nagar?

Raghavan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.