Guideline Value for Raveendranath Tagoore Street

Raveendranath Tagoore Street guideline value

The current guideline value of Raveendranath Tagoore Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Raveendranath Tagoore Street has changed

The guideline value for Raveendranath Tagoore Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 1,650 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Raveendranath Tagoore Street.

• R.B.Nagar: Rs 1,650 per sq.ft (2024)
• R.B Nagar Extension: Rs 1,650 per sq.ft (2024)
• Rani Elizabeth Street: Rs 1,650 per sq.ft (2024)
• Rani Anna St: Rs 1,650 per sq.ft (2024)
• Roseling Nagar: Rs 2,750 per sq.ft (2024)
• Roselin nagar 2nd street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Raveendranath Tagoore Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raveendranath Tagoore Street?

The Sub Registrar Office covering Raveendranath Tagoore Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that the guideline value is the baseline for these calculations.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two amounts is used to calculate the applicable duties and fees, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Raveendranath Tagoore Street?

The current guideline value of Raveendranath Tagoore Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Chitlapakkam with the same guideline value?

Other streets in Chitlapakkam with the same guideline value of Rs 1,650 per sq.ft include R.B.Nagar, R.B Nagar Extension, Rani Elizabeth Street, and Rani Anna St.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office should I contact for property registration in Chitlapakkam?

The Tambaram Joint 1 Sub Registrar Office is responsible for property registration in Chitlapakkam, located at No.26, Mes Road, East Tambaram, Chennai-600059.