Guideline Value for Ravindranath Tagore Nagar

Ravindranath Tagore Nagar guideline value

The current guideline value of Ravindranath Tagore Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village and falls under the Chengleput Joint II SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Ravindranath Tagore Nagar has changed

The guideline value for Ravindranath Tagore Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 210 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 233%. However, in the subsequent revision in 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose again to Rs 700 per sq.ft in 2023, remaining unchanged in the latest revision for 2024.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 700 per sq.ft. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 233%.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value for these streets is Rs 700 per sq.ft, making the guideline value for Ravindranath Tagore Nagar equal to this median.

• Rishi Gardan: Rs 801 per sq.ft (2024)
• Ram Nagar: Rs 700 per sq.ft (2024)
• R.R Avenue: Rs 1,500 per sq.ft (2024)
• Rajeswari Nagar: Rs 2,986 per sq.ft (2024)
• Rajeev Nagar: Rs 700 per sq.ft (2024)
• Sakthi Avenue: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ravindranath Tagore Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ravindranath Tagore Nagar?

The Sub Registrar Office that covers Ravindranath Tagore Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kayirambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Ravindranath Tagore Nagar?

The current guideline value of Ravindranath Tagore Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Ravindranath Tagore Nagar?

The land classification for Ravindranath Tagore Nagar is Residential Special Type - II.

What are the stamp duty rates for properties in Ravindranath Tagore Nagar?

The stamp duty for properties in Ravindranath Tagore Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ravindranath Tagore Nagar?

The Sub Registrar Office for Ravindranath Tagore Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.