Guideline Value for Reghavan Nagar

Reghavan Nagar guideline value

The current guideline value of Reghavan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Reghavan Nagar has changed

The guideline value for Reghavan Nagar has seen several revisions over the years. In 2007, the value was set at Rs 450 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 233%. However, it then decreased to Rs 1,005 per sq.ft in 2017, representing a decline of 33%. The value continued to rise, reaching Rs 1,500 per sq.ft in 2023, before increasing again to the current rate of Rs 1,600 per sq.ft in 2024, which is a 7% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Reghavan Nagar is below this median.

• R.B.Avenue Main Road: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 7th Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 6th Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 5th Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 4th Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Reghavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please note that the 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 Reghavan Nagar?

The Sub Registrar Office that covers Reghavan Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted at a fair price. This value is used to calculate the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Reghavan Nagar?

The current guideline value of Reghavan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 256% over the years.

What are the other streets in Chembakkam with their guideline values?

Other streets in Chembakkam include R.B.Avenue Main Road, R.B.Avenue 7th Street, R.B.Avenue 6th Street, R.B.Avenue 5th Street, R.B.Avenue 4th Street, and R.B.Avenue 3rd Street, all valued at Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Reghavan Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000 based on the current guideline value.

Which Sub Registrar Office covers Reghavan Nagar?

The Selaiyur Sub Registrar Office covers Reghavan Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.