Guideline Value for Raghavan Street (JPT)

Raghavan Street (JPT) guideline value

The current guideline value for Raghavan Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO with a land classification of Residential Class IV Type - I.

How the guideline value of Raghavan Street (JPT) has changed

The guideline value for Raghavan Street (JPT) has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 800 per sq.ft, which increased dramatically to Rs 3,750 per sq.ft in the 2012 revision, marking a change of +369%. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, reflecting a +9% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +413%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with 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 Street (JPT) below this median value.

• Raghava Reddy Colony 1st Cross Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 1st Link Street: Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 1st Street (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 2nd Cross St (AN): Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Raghava Reddy Colony 2nd Link Street (AN): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Street (JPT)

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raghavan Street (JPT)?

The Sub Registrar Office that covers Raghavan Street (JPT) 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 here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, thus safeguarding the interests of both the buyer and seller. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Raghavan Street (JPT)?

The current guideline value of Raghavan Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of +413%.

What is the land classification of Raghavan Street (JPT)?

Raghavan Street (JPT) is classified as Residential Class IV Type - I.

Where can I find the registration office for Raghavan Street (JPT)?

The registration office for Raghavan Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Raghavan Street (JPT)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 41,00,000 would incur a stamp duty of Rs 2,87,000 at 7%.