Guideline Value for SRI RAGHAVA NAGAR

Sri Raghava Nagar guideline value

The current guideline value of Sri Raghava Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This locality is situated in Kunnavakkam village, under the jurisdiction of the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - III.

How the guideline value of Sri Raghava Nagar has changed

Over the years, the guideline value of Sri Raghava Nagar has seen several revisions. The most recent figures show that the guideline value was Rs 150 per sq.ft in both the 2023 and 2024 revisions, indicating no change. In the 2017 revision, the value was Rs 100 per sq.ft, which marked a 50% increase when compared to the 2017 figure. The 2012 revision also had a guideline value of Rs 150 per sq.ft, reflecting a decrease of 33% from the previous 2017 figure.

It is important to note that the register does not have figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 150 per sq.ft.

Guideline values in Kunnavakkam

In Kunnavakkam, there are five streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 126 to Rs 300 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which is equal to the guideline value of Sri Raghava Nagar.

• Sri Munuswamy Nagar: Rs 126 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 300 per sq.ft (2024)
• Sumathi Ammal Nagar: Rs 200 per sq.ft (2024)
• Kalyan Real Estate Little Forms: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. 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 Raghava Nagar?

The Sub Registrar Office that covers Sri Raghava Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To learn more about other offices, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kunnavakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps establish a baseline for the transaction value. The stamp duty is calculated based on this value or the actual sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Raghava Nagar?

The current guideline value of Sri Raghava Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with the only change occurring from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023, reflecting a 50% increase.

What is the land classification for Sri Raghava Nagar?

Sri Raghava Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Sri Raghava Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.