Guideline Value for Raghavan Street (Vetri Nagar)

Raghavan Street (Vetri Nagar) guideline value

The current guideline value of Raghavan Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO with a land classification of Residential Special Type - II.

How the guideline value of Raghavan Street (Vetri Nagar) has changed

The guideline value for Raghavan Street (Vetri Nagar) has seen several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 700 per sq.ft in 2007, a jump of 79%. Following that, in 2012, it decreased to Rs 3,000 per sq.ft, reflecting a decline of 329% from the previous revision. The value was Rs 2,010 per sq.ft in 2017, which was a 49% increase from 2012. In 2023, the guideline value was set at Rs 3,000 per sq.ft, and the latest revision in 2024 shows a value of Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions of this street in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 817%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value is Rs 3,301 per sq.ft, which is the same as the current value for Raghavan Street (Vetri Nagar).

• Ragavendra Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Ragavan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Rajabhadar Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Raja Garden Main Road: Rs 3,301 per sq.ft (2024)
• Raja Garden Road: Rs 3,301 per sq.ft (2024)
• Prabu Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty charged at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raghavan Street (Vetri Nagar)?

The Sub Registrar Office that covers Raghavan Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a critical factor when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware that the guideline value will influence the overall costs associated with the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. This value ensures transparency and helps maintain a standard in property transactions within the region.

Frequently asked questions

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

The current guideline value of Raghavan Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the registration office for Raghavan Street (Vetri Nagar)?

The registration office for Raghavan Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Raghavan Street (Vetri Nagar)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,070.

Are there other streets in Peravallur with the same guideline value?

Yes, several other streets in Peravallur have the same guideline value of Rs 3,301 per sq.ft for 2024, including Ragavendra Street, Ragavan Street (Vetri Nagar Extension), and Rajabhadar Street.