Guideline Value for Raghavendra Nagar (Ward-11)

Raghavendra Nagar (Ward-11) guideline value

The current guideline value of Raghavendra Nagar (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Raghavendra Nagar (Ward-11) has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 has seen the guideline value increase to Rs 1,300 per sq.ft, which is a rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8% in the guideline value. The register does not provide figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Raghavendra Nagar is below this median.

• Ragavendra Nagar Annexe: Rs 1,300 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,300 per sq.ft (2024)
• Ragavendra Avenu, Maduramettupalayam (Ward-30): Rs 1,300 per sq.ft (2024)
• Rajaji Salai Extn. (Ward No.28): Rs 2,200 per sq.ft (2024)
• P.V.N. Nagar: Rs 1,600 per sq.ft (2024)
• Rajaji Street Annexure (Ward-14): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavendra Nagar (Ward-11)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Raghavendra Nagar (Ward-11)?

The Sub Registrar Office that covers Raghavendra Nagar (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is used as a reference point for determining the value of property transactions in Madhavaram. When buying or selling property, this value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the financial obligations during the transaction process. The guideline value ensures that the property is registered at a fair value, aligning with the local market conditions.

Frequently asked questions

What is the current guideline value of Raghavendra Nagar (Ward-11)?

The current guideline value of Raghavendra Nagar (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with a decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by an increase to Rs 1,300 per sq.ft in 2024.

What is the land classification of Raghavendra Nagar?

Raghavendra Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Raghavendra Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total charges would be Rs 1,17,000.

Where can I find the Sub Registrar Office for Raghavendra Nagar?

The Sub Registrar Office for Raghavendra Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.