Guideline Value for SRI RAGAVENDRA NAGAR

Sri Ragavendra Nagar guideline value

The current guideline value of Sri Ragavendra Nagar 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 has changed

The guideline value for Sri Ragavendra Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 102 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a significant rise of 145%. The value remained at Rs 2,000 per sq.ft from 2007 until the 2012 revision, where it stayed the same. In 2023, the guideline value was again Rs 2,000 per sq.ft, but it increased to Rs 2,100 per sq.ft in the 2024 revision, reflecting a change of 5%.

There are no figures available for the years 2003 and 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,959%.

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, placing Sri Ragavendra Nagar's 2024 figure below this median.

• Sri Ragavendra Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, while the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ragavendra Nagar?

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

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

The guideline value is a critical factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees based on the property’s value. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When purchasing or selling property, the guideline value helps in assessing the financial obligations involved in the registration process. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration at the Villivakkam SRO.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Nagar?

The current guideline value of Sri Ragavendra Nagar 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 significantly from Rs 102 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 1,959%.

What are the other streets in Korattur and their guideline values?

Other streets in Korattur include Sri Ragavendra Nagar Extension at Rs 2,100 per sq.ft, Sri Ramalu Nagar at Rs 1,600 per sq.ft, and several others with varying rates.

What are the stamp duty and registration fees for property in Sri Ragavendra Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 21,00,000. The stamp duty would be Rs 1,47,000 and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which Sub Registrar Office covers Sri Ragavendra Nagar?

The Villivakkam Sub Registrar Office covers Sri Ragavendra Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.