Guideline Value for Ravindharan Nagar

Ravindharan Nagar guideline value

The current guideline value of Ravindharan Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Pattravakkam village, under the Konnur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Ravindharan Nagar has changed

The guideline value for Ravindharan Nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a substantial rise of 367%. However, this was followed by a decrease to Rs 938 per sq.ft in 2017, reflecting a decline of 33%. The value then rose sharply to Rs 1,400 per sq.ft in 2023, representing a 49% increase from the previous revision.

The most recent revision in 2024 established the guideline value at Rs 1,500 per sq.ft, which is a 7% increase from the 2023 figure. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Pattravakkam

In Pattravakkam, there are 34 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, making the guideline value of Ravindharan Nagar equal to the median.

• Samondeeswari Nagar: Rs 1,100 per sq.ft (2024)
• Selva Nagar: Rs 1,500 per sq.ft (2024)
• Preethivpakkam Extension and Streets: Rs 1,500 per sq.ft (2024)
• Shrinivasa Nagar (A) Jeyanthi Nagar: Rs 1,500 per sq.ft (2024)
• Shrinivasa Nagar (Karukku): Rs 1,500 per sq.ft (2024)
• Sivakami Ammal Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ravindharan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ravindharan Nagar?

The Sub Registrar Office that covers Ravindharan Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Pattravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ravindharan Nagar?

The current guideline value of Ravindharan Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What is the land classification for Ravindharan Nagar?

Ravindharan Nagar is classified as Residential Class II Type - I under the Konnur SRO.

Where can I find the Sub Registrar Office for Ravindharan Nagar?

The Sub Registrar Office for Ravindharan Nagar is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft would incur a total fee of Rs 1,35,000.