Guideline Value for SRI RAGAVENDRA NAGAR,OLD PALLAVARAM

Sri Ragavendra Nagar,Old Pallavaram guideline value

The current guideline value of Sri Ragavendra Nagar, Old Pallavaram is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village under the Pallavaram SRO, and it is classified as Residential Class I Type - I.

How the guideline value of Sri Ragavendra Nagar,Old Pallavaram has changed

Over the years, the guideline value for Sri Ragavendra Nagar has seen some revisions. The 2012 revision set the value at Rs 3,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 3,200 per sq.ft, and then increased by 10% to Rs 3,520 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10% in the guideline value. The changes reflect a gradual adjustment in property values in the area, with the most recent revision indicating a significant upward movement.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, positioning Sri Ragavendra Nagar's 2024 figure above this median.

• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Srinivasapuram: Rs 3,300 per sq.ft (2024)
• Srinivasa Nayakkar Street: Rs 2,750 per sq.ft (2024)
• Srirangam Nagar: Rs 3,300 per sq.ft (2024)
• Srinivasalu Naidu Street: Rs 3,850 per sq.ft (2024)
• Srinivasalu Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendra Nagar,Old Pallavaram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Therefore, the total cost for stamp duty and registration would be Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ragavendra Nagar,Old Pallavaram?

The Sub Registrar Office that covers Sri Ragavendra Nagar, Old Pallavaram is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure that they are complying with the legal requirements during the registration process.

When a property is sold, the guideline value acts as a benchmark for assessing the minimum value of the property. This ensures that all transactions are recorded at a fair value, which helps in maintaining transparency in property dealings in the area.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Nagar, Old Pallavaram?

The current guideline value of Sri Ragavendra Nagar, Old Pallavaram is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,200 per sq.ft from 2012 until the 2023 revision, which also set it at Rs 3,200 per sq.ft. The 2024 revision increased it to Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

What is the land classification of Sri Ragavendra Nagar?

Sri Ragavendra Nagar is classified as Residential Class I Type - I, indicating its suitability for residential developments.

Where can I find the registration office for Sri Ragavendra Nagar?

The registration office for Sri Ragavendra Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Sri Ragavendra Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 at a rate of 7%.