Guideline Value for SRI VEERA RAGHAVA NAGAR

Sri Veera Raghava Nagar guideline value

The current guideline value of Sri Veera Raghava Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Veera Raghava Nagar has changed

The guideline value for Sri Veera Raghava Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, which also marked Rs 2,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 2,100 per sq.ft, reflecting a 5% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 460%. Notably, the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values 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 Veera Raghava Nagar's 2024 figure below this median.

• Sri Vatsa Nagar Annex II, III: Rs 1,600 per sq.ft (2024)
• Sri Vatsa Nagar: Rs 1,600 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 3,300 per sq.ft (2024)
• Station Road (Avin To Bus Stand): Rs 4,900 per sq.ft (2024)
• Station Road (From Britannia To Avain): Rs 4,400 per sq.ft (2024)
• Station Road (Korattur Bus Terminus To Railway Station): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Veera Raghava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, totaling Rs 1,89,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Veera Raghava Nagar?

The Sub Registrar Office that covers Sri Veera Raghava Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transactions.

When buying or selling property, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the government. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Sri Veera Raghava Nagar?

The current guideline value of Sri Veera Raghava 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 from Rs 375 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, marking an overall increase of 460% over the years.

What is the land classification for Sri Veera Raghava Nagar?

Sri Veera Raghava Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Veera Raghava Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 21,00,000, the stamp duty would amount to Rs 1,47,000 at a rate of 7%.