Guideline Value for Raghavendra Nagar

Raghavendra Nagar guideline value

The current guideline value of Raghavendra Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Raghavendra Nagar has changed

The guideline value has undergone several revisions since 2007. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012. However, it decreased to Rs 603 per sq.ft in 2017. Following this, the value rose to Rs 900 per sq.ft in 2023 and then to Rs 990 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The overall increase from 2007 to 2024 is a substantial 725%, highlighting the changes over the years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Raghavendra Nagar is below this median.

• Radhakrishna Nagar Extension - 4: Rs 1,650 per sq.ft (2024)
• Purushothaman Nagar Extn: Rs 1,320 per sq.ft (2024)
• Purushothaman Nagar: Rs 1,320 per sq.ft (2024)
• Raja Nagar: Rs 1,320 per sq.ft (2024)
• Raja Nagar @ Gajalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Priyanga Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, together totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghavendra Nagar?

The Sub Registrar Office that covers Raghavendra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Varadarajapuram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Raghavendra Nagar?

The current guideline value of Raghavendra Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 725% over the years.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total costs would amount to Rs 89,100.

Where is the Sub Registrar Office for Raghavendra Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Raghavendra Nagar?

The land classification for Raghavendra Nagar is Residential Class III Type - I, indicating its designated use for residential purposes.