Guideline Value for Raghavendra Cross Street

Raghavendra Cross Street guideline value

The current guideline value of Raghavendra Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Raghavendra Cross Street has changed

The guideline value for Raghavendra Cross Street has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2023. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +64%.

This significant increase reflects the adjustments made to the guideline value over the years, culminating in the current rate. The 2024 figure is notably below the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

The guideline values in Madipakkam-1 vary significantly, with figures ranging from Rs 1,650 to Rs 5,500 per sq.ft. Raghavendra Cross Street's current guideline value is below the median of Rs 2,750 per sq.ft. Here are some other streets in Madipakkam-1:

• Raghavendra Street 1st Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 1st Street/Balaiya Garden: Rs 3,850 per sq.ft (2024)
• Raghavendra Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 3rd Street: Rs 2,200 per sq.ft (2024)
• Rainbow Avenue: Rs 2,750 per sq.ft (2024)
• Rajagopalapuram Extension, Ram Nagar North Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavendra Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. The total cost for these fees together would be Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghavendra Cross Street?

The Raghavendra Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are based on an official valuation rather than the negotiated sale price, which could be lower.

Frequently asked questions

What is the current guideline value of Raghavendra Cross Street?

The current guideline value of Raghavendra Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is a change of +64%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2023.

What is the land classification of Raghavendra Cross Street?

Raghavendra Cross Street falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Raghavendra Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.