Guideline Value for SRI RAGAVENDRA NAGAR PHASE - I

Sri Ragavendra Nagar Phase - I guideline value

The current guideline value of Sri Ragavendra Nagar Phase - I is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village and falls under the Madurandakam SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Sri Ragavendra Nagar Phase - I has changed

The guideline value for Sri Ragavendra Nagar Phase - I has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 10%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sri Ragavendra Nagar Phase - I is below this median.

• Sri Raghavendra Nagar Phase-III: Rs 1,110 per sq.ft (2024)
• Sri Ranga Nagar: Rs 555 per sq.ft (2024)
• Sri Saibaba Nagar Extn: Rs 1,105 per sq.ft (2024)
• Sri Meenakshi Garden: Rs 1,110 per sq.ft (2024)
• Sri Kamalavalli Nagar Phase-II: Rs 555 per sq.ft (2024)
• Sri Kamalavalli Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendra Nagar Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. 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 further calculations.

Which Sub Registrar Office covers Sri Ragavendra Nagar Phase - I?

Sri Ragavendra Nagar Phase - I is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is recorded accurately and reflects the official value assigned to the property by the government.

Frequently asked questions

What is the current guideline value for Sri Ragavendra Nagar Phase - I?

The current guideline value for Sri Ragavendra Nagar Phase - I is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Sri Ragavendra Nagar Phase - I?

Sri Ragavendra Nagar Phase - I is classified as Residential Class I Type - II.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Sri Ragavendra Nagar Phase - I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.