Guideline Value for SRI RAGHAVENDRA NAGAR PHASE-I

Sri Raghavendra Nagar Phase-I guideline value

The current guideline value of Sri Raghavendra Nagar Phase-I is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Puzhuthivakkam village under the Madurandakam Sub Registrar Office (SRO), classified as Residential Special Type - I.

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

Over the years, the guideline value for Sri Raghavendra Nagar Phase-I has seen several revisions. The 2012 revision set the guideline value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. The value then increased significantly to Rs 200 per sq.ft in both the 2023 and 2024 revisions, resulting in a 49% increase from 2017 to 2023, while the overall change from 2012 to 2024 is 0%.

The register has no figures for the years 2002, 2003, and 2007. Thus, the only available revisions are from 2012, 2017, 2023, and 2024, with the current rate reflecting stability since 2023.

Guideline values in Puzhuthivakkam

In Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Raghavendra Nagar Phase-I's 2024 figure matches this median.

• Sri Sai Garden: Rs 200 per sq.ft (2024)
• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Thirumagal Nagar: Rs 200 per sq.ft (2024)
• Thirumalai Nagar: Rs 200 per sq.ft (2024)
• Roja Nagar: Rs 100 per sq.ft (2024)
• Vip City: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghavendra Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Raghavendra Nagar Phase-I?

The Madurandakam Sub Registrar Office covers Sri Raghavendra Nagar Phase-I, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property as it determines the minimum price at which a property can be registered. This value helps in calculating the stamp duty and registration fees applicable during the transaction.

When a buyer approaches the registration office, the guideline value is referenced to ensure compliance with legal requirements. It serves as a benchmark to assess the value of the property being transferred, ensuring that all fees are accurately calculated.

Frequently asked questions

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

The current guideline value of Sri Raghavendra Nagar Phase-I is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, dropped to Rs 134 per sq.ft in 2017, and then returned to Rs 200 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles property registrations in Sri Raghavendra Nagar Phase-I?

The Madurandakam Sub Registrar Office is responsible for property registrations in Sri Raghavendra Nagar Phase-I.

Where can I find more information about the guideline values in Puzhuthivakkam?

For detailed information about guideline values in Puzhuthivakkam, you can refer to the specific street links provided for each area.