Guideline Value for Raghavan Street

Raghavan Street guideline value

The current guideline value of Raghavan Street in Sembiam village, under the Sembiam SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Raghavan Street has changed

The guideline value for Raghavan Street has seen several revisions over the years. In 2002, the value was Rs 565 per sq.ft, which increased to Rs 613 per sq.ft in 2003, marking an 8% rise. The value then saw a significant increase of 47% to reach Rs 900 per sq.ft in 2007. Following this, the value surged by 211% to Rs 2,800 per sq.ft in 2012, but then decreased by 33% to Rs 1,876 per sq.ft in 2017. The next revision in 2023 brought the value up by 49% to Rs 2,800 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,000 per sq.ft, reflecting a 7% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 431%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making Raghavan Street's current guideline value above this median.

• Raghavan Street (George Colony): Rs 3,500 per sq.ft (2024)
• Raghavachari Street: Rs 3,800 per sq.ft (2024)
• Puzhal Munuswamy Mudali Street: Rs 1,900 per sq.ft (2024)
• Pudu Street: Rs 1,900 per sq.ft (2024)
• Raja Street: Rs 1,900 per sq.ft (2024)
• Prakash Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Raghavan Street?

The Sub Registrar Office that covers Raghavan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raghavan Street?

The current guideline value of Raghavan Street is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 565 per sq.ft in 2002 to Rs 3,000 per sq.ft in 2024, reflecting an overall increase of 431% over this period.

What is the land classification for Raghavan Street?

The land classification for Raghavan Street is Mixed Type - I, which indicates the type of land use permitted in this area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Raghavan Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.