Guideline Value for SRI RAGAVENDRA NAGAR EXTENSION

Sri Ragavendra Nagar Extension guideline value

The current guideline value of Sri Ragavendra Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Ragavendra Nagar Extension has changed

The guideline value for Sri Ragavendra Nagar Extension has seen several revisions over the years. In 2002, the guideline value was Rs 110 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007, marking a change of +127%. By 2012, the value remained at Rs 2,000 per sq.ft, and this figure did not change until the 2023 revision. In 2023, the guideline value was Rs 2,000 per sq.ft, which then increased to Rs 2,100 per sq.ft in 2024, reflecting a change of +5%.

There are no figures available for the revisions in 2003 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1809%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the current guideline value of Sri Ragavendra Nagar Extension below that median.

• Sri Ragavendra Nagar: Rs 2,100 per sq.ft (2024)
• Sri Ramalu Nagar: Rs 1,600 per sq.ft (2024)
• SRINIVASAPURAM 3rd MAIN ROAD: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd MAIN ROAD: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendra Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 2,100 per sq.ft, the guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, leading to a total of Rs 1,89,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Sri Ragavendra Nagar Extension?

The Sub Registrar Office that covers Sri Ragavendra Nagar Extension is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Nagar Extension?

The current guideline value of Sri Ragavendra Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, showing an overall increase of +1809% over the years.

What is the stamp duty for properties in Sri Ragavendra Nagar Extension?

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

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

What is the median guideline value for streets in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, with the current value of Sri Ragavendra Nagar Extension being below this median.