Guideline Value for Raghupathi Nagar 1st Street

Raghupathi Nagar 1st Street guideline value

The current guideline value of Raghupathi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Raghupathi Nagar 1st Street has changed

The guideline value for Raghupathi Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, which represented a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Raghupathi Nagar 1st Street is below this median.

• Raghupathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Raghupathi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raghupathi Nagar 1st Street?

The Sub Registrar Office that covers Raghupathi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions as it determines the minimum value on which stamp duty and registration fees are calculated. This value is used to ensure that the government receives the appropriate revenue from property transactions.

When buying or selling a property in Thalakanancherry, both the buyer and seller must be aware of the guideline value, as it affects the overall cost of the transaction. It is advisable to check the latest guideline value before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Raghupathi Nagar 1st Street?

The current guideline value of Raghupathi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Raghupathi Nagar 1st Street?

The Alandur Sub Registrar Office is responsible for Raghupathi Nagar 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Raghupathi Nagar 1st Street?

Raghupathi Nagar 1st Street is classified as Residential Class II Type - I.