Guideline Value for Raghavel Naicker Street Lane

Raghavel Naicker Street Lane guideline value

The current guideline value of Raghavel Naicker Street Lane is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Raghavel Naicker Street Lane has changed

The guideline value for Raghavel Naicker Street Lane has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, this value decreased to Rs 1,005 per sq.ft in 2017, reflecting a 33% drop. The subsequent revision in 2023 raised the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024, which is a 10% change from the previous year.

From the 2017 revision to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Raghavel Naicker Street Lane.

• Ragavalu Nayakkar Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Cross Street: Rs 1,650 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Prakasam Street: Rs 1,320 per sq.ft (2024)
• Poonga Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavel Naicker Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost of these fees Rs 1,48,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for a more personalized estimate.

Which Sub Registrar Office covers Raghavel Naicker Street Lane?

The Sub Registrar Office that covers Raghavel Naicker Street Lane 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 Naravarikuppam

The guideline value serves as a benchmark for property transactions in Naravarikuppam. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

It is essential for buyers and sellers to understand that the guideline value can influence the overall cost of property transactions, as it determines the minimum value on which taxes are calculated during registration.

Frequently asked questions

What is the current guideline value of Raghavel Naicker Street Lane?

The current guideline value of Raghavel Naicker Street Lane is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with significant increases and decreases in between, including a 275% rise from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the land classification for Raghavel Naicker Street Lane?

Raghavel Naicker Street Lane is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Raghavel Naicker Street Lane?

The Sub Registrar Office for Raghavel Naicker Street Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Naravarikuppam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.