Guideline Value for Raghupathy Street

Raghupathy Street guideline value

The current guideline value of Raghupathy Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Raghupathy Street has changed

The guideline value for Raghupathy Street has seen several revisions over the years. The earliest recorded value was Rs 554 per sq.ft in 2003. This figure increased to Rs 1,000 per sq.ft in 2007, reflecting a rise of 81%. By 2012, the value was Rs 3,200 per sq.ft, marking a significant increase of 220%. However, it then decreased to Rs 2,144 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,200 per sq.ft in 2023, and most recently, it has reached Rs 3,520 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Raghupathy Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 535%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Raghupathy Street is above this median.

• Raghu Colony: Rs 3,300 per sq.ft (2024)
• Radhapuram Ammal Layout: Rs 3,300 per sq.ft (2024)
• Radha Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Radhabaiammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Radhabaiammal Nagar 1st Street: Rs 2,160 per sq.ft (2024)
• Radhabai Ammal (Layout): Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Raghupathy Street

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghupathy Street?

The Sub Registrar Office that covers Raghupathy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, which are required when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raghupathy Street?

The current guideline value of Raghupathy Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 554 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 535%.

What is the land classification of Raghupathy Street?

Raghupathy Street is classified as Residential Class I Type - I.

Where can I find the registration office for Raghupathy Street?

The registration office for Raghupathy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Raghupathy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.