Guideline Value for Raghavendra Street 3rd Street

Raghavendra Street 3rd Street guideline value

The current guideline value of Raghavendra Street 3rd 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, classified as Residential Class II Type - I.

How the guideline value of Raghavendra Street 3rd Street has changed

In the 2017 revision, the guideline value for Raghavendra Street 3rd Street was Rs 1,340 per sq.ft. The most recent 2024 revision saw a significant increase, bringing the value to Rs 2,200 per sq.ft, which represents a change of +64% from the previous figure.

There are no registered figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The 2024 value of Rs 2,200 per sq.ft is below the median 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 for other streets in Madipakkam-1 under the Velacheri SRO vary from Rs 1,650 to Rs 5,500 per sq.ft. Below are the guideline values for some other streets:

• Raghavendra Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 1st Street/Balaiya Garden: Rs 3,850 per sq.ft (2024)
• Raghavendra Street 1st Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Cross 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 Street 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Raghavendra Street 3rd Street?

The Velacheri Sub Registrar Office covers Raghavendra Street 3rd Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madipakkam-1, as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the transaction.

When registering a property, the guideline value serves as a benchmark for the minimum sale price. This means that the stamp duty will be calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate tax revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raghavendra Street 3rd Street?

The current guideline value of Raghavendra Street 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a change of +64%.

Are there any revisions without figures for this street?

Yes, the register has no figures for Raghavendra Street 3rd Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for the 1,823 streets in Madipakkam-1 under the Velacheri SRO is Rs 2,750 per sq.ft.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.