Guideline Value for SRI RAGAVENDRA NAGAR

Sri Ragavendra Nagar guideline value

The current guideline value of Sri Ragavendra Nagar, located in Maele Manapakkam village, is Rs 301 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Ragavendra Nagar has changed

The guideline value for Sri Ragavendra Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. Following this, the 2023 revision increased the value to Rs 300 per sq.ft, and the most recent revision in 2024 has set it at Rs 301 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the current 2024 value, there has been no change, maintaining the guideline value at Rs 301 per sq.ft.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 450 per sq.ft. The median value among these streets is Rs 301 per sq.ft, which is equal to the 2024 figure for Sri Ragavendra Nagar.

• Sri Lakshmi Narayana Nagar Phase -I: Rs 300 per sq.ft (2024)
• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 301 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Avenue: Rs 301 per sq.ft (2024)
• Sri Arunachala City: Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 301 per sq.ft, the guideline value would be Rs 3,01,000. The stamp duty at 7% would amount to Rs 21,070, and the registration fee at 2% would be Rs 6,020, totaling Rs 27,090. 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 details.

Which Sub Registrar Office covers Sri Ragavendra Nagar?

Sri Ragavendra Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Maele Manapakkam

The guideline value plays a crucial role in the registration process of property transactions in Maele Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Nagar?

The current guideline value of Sri Ragavendra Nagar is Rs 301 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 back to Rs 300 per sq.ft in 2023, and finally to Rs 301 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What is the land classification of Sri Ragavendra Nagar?

Sri Ragavendra Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Sri Ragavendra Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Sri Ragavendra Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Sri Ragavendra Nagar.