Guideline Value for SRI RAGHAVENDRA NAGAR

Sri Raghavendra Nagar guideline value

The current guideline value of Sri Raghavendra Nagar, located in Pazhanthandalam village under the Padappai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Raghavendra Nagar has changed

Since the 2017 revision, the guideline value has seen significant changes. In 2017, the value was Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Pazhanthandalam

Pazhanthandalam village has a total of 57 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,980 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value of Sri Raghavendra Nagar.

• Sri Raghavendra Nagar Extension I: Rs 770 per sq.ft (2024)
• Sri Raghavendra Nagar Extension III: Rs 1,100 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,100 per sq.ft (2024)
• Sri Ram Nagar Extn: Rs 1,100 per sq.ft (2024)
• Sri Sai City Phase-IV: Rs 1,980 per sq.ft (2024)
• Sri Sathya Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Sri Raghavendra Nagar?

The Sub Registrar Office that covers Sri Raghavendra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial when registering a property as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price reflects the market conditions as per the official register. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sri Raghavendra Nagar?

The current guideline value of Sri Raghavendra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the stamp duty for properties in Sri Raghavendra Nagar?

The stamp duty for properties in Sri Raghavendra Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Raghavendra Nagar?

The Sub Registrar Office for Sri Raghavendra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sri Raghavendra Nagar?

The land classification for Sri Raghavendra Nagar is Residential Special Type - I, indicating its suitability for residential development.