Guideline Value for SRI RAGAVENDIRA MODERN TOWN

Sri Ragavendira Modern Town guideline value

The current guideline value of Sri Ragavendira Modern Town is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Kolatti village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Sri Ragavendira Modern Town has changed

The guideline value for Sri Ragavendira Modern Town has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was then reduced to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in the 2023 revision, and finally rose to Rs 330 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 330 per sq.ft. The median guideline value for these streets is Rs 275 per sq.ft, placing the Sri Ragavendira Modern Town's 2024 figure above this median.

• Sri Thiruvenkadapuram Nagar: Rs 330 per sq.ft (2024)
• Thirumurugan Nagar: Rs 330 per sq.ft (2024)
• Thiru Vee Ka Nagar: Rs 220 per sq.ft (2024)
• Vallalar Nagar: Rs 330 per sq.ft (2024)
• Ram Tulasi Nagar: Rs 330 per sq.ft (2024)
• Puduppedu School Road: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendira Modern Town

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is calculated at 7%, which totals Rs 23,100, and the registration fee is charged at 2%, amounting to Rs 6,600. Together, the total cost for stamp duty and registration fee is Rs 29,700. It is important to note that 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 Sri Ragavendira Modern Town?

The Sri Ragavendira Modern Town falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolatti. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction is recorded accurately within the legal framework.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Sri Ragavendira Modern Town?

The current guideline value of Sri Ragavendira Modern Town is Rs 330 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 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification for Sri Ragavendira Modern Town?

Sri Ragavendira Modern Town is classified as Residential Class I Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Sri Ragavendira Modern Town?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 3,30,000 incurs a stamp duty of Rs 23,100.