Guideline Value for SRI RAGHAVENDRA NAGAR PHASE-III

Sri Raghavendra Nagar Phase-III guideline value

The current guideline value of Sri Raghavendra Nagar Phase-III is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Sri Raghavendra Nagar Phase-III has changed

The guideline value for Sri Raghavendra Nagar Phase-III has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and most recently, it rose to Rs 1,110 per sq.ft in 2024. 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, it saw a significant increase of 49%. The value then increased by 11% from 2023 to 2024, resulting in an overall increase of 11% from 2012 to 2024.

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 Raghavendra Nagar Phase-III is above this median.

• Sri Ragavendra Nagar Phase - I: Rs 440 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 Raghavendra Nagar Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Raghavendra Nagar Phase-III?

The Sub Registrar Office that covers Sri Raghavendra Nagar Phase-III is 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 is a crucial factor when registering property transactions in Mathuranthagam. It serves as the minimum value upon which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the fair valuation of the property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and avoid potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Sri Raghavendra Nagar Phase-III?

The current guideline value of Sri Raghavendra Nagar Phase-III is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the stamp duty for a property in Sri Raghavendra Nagar Phase-III?

The stamp duty for a property in Sri Raghavendra Nagar Phase-III is 7% of the guideline value. For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700.

Which office handles the registration for Sri Raghavendra Nagar Phase-III?

The Madurandakam Sub Registrar Office handles the registration for Sri Raghavendra Nagar Phase-III, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Sri Raghavendra Nagar Phase-III?

Sri Raghavendra Nagar Phase-III is classified as Residential Special Type - I, indicating its designated use for residential purposes.