Guideline Value for Raghu Nayakalu Street

Raghu Nayakalu Street guideline value

The current guideline value of Raghu Nayakalu Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Raghu Nayakalu Street has changed

Over the years, the guideline value of Raghu Nayakalu Street has experienced several revisions. The earliest recorded figure is from 2003, which was Rs 2,159 per sq.ft. This increased to Rs 2,500 per sq.ft in 2007, marking a change of +16%. The value then saw a significant rise to Rs 6,000 per sq.ft in 2012, which represented a substantial increase of +140%. However, the value dropped to Rs 4,020 per sq.ft in 2017, a decrease of -33%. In 2023, the guideline value rose again to Rs 6,000 per sq.ft, followed by another increase to the current figure of Rs 6,600 per sq.ft in 2024, which is a change of +10%.

It is important to note that there is no recorded figure for Raghu Nayakalu Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by +206%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Raghu Nayakalu Street's 2024 figure above this median.

• Raghava Aiyer Street: Rs 4,400 per sq.ft (2024)
• Presars Bridege Road: Rs 6,000 per sq.ft (2024)
• Portugeese Church Street 9th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 8th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 7th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 6th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Raghu Nayakalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total of Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raghu Nayakalu Street?

The Sub Registrar Office that covers Raghu Nayakalu Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and complies with local regulations.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Raghu Nayakalu Street?

The current guideline value of Raghu Nayakalu Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,159 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, marking an overall increase of +206% over this period.

What are the stamp duty and registration fees for property in Raghu Nayakalu Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 66,00,000, with a stamp duty of Rs 4,62,000 and a registration fee of Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Raghu Nayakalu Street?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01, covers Raghu Nayakalu Street.

What is the land classification for Raghu Nayakalu Street?

The land classification for Raghu Nayakalu Street is Commercial Class I Type - III, indicating its commercial use and potential within the area.