Guideline Value for Sri Ragavendira Nagar

Sri Ragavendira Nagar guideline value

The current guideline value for Sri Ragavendira Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village and falls under the Alandur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Ragavendira Nagar has changed

The guideline value for Sri Ragavendira Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 234 per sq.ft. This value increased to Rs 262 per sq.ft in 2003, marking a change of +12%. In 2007, the guideline value rose significantly to Rs 1,000 per sq.ft, reflecting a +282% increase. The value then changed to Rs 2,500 per sq.ft in 2012, which was a decrease of -33%. Following this, the guideline value increased again to Rs 1,675 per sq.ft in 2017, showing a +49% change. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and the current value is Rs 2,800 per sq.ft as of 2024, representing a +12% increase.

Overall, from 2002 to 2024, the guideline value has increased by +1097%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is the same as the current value for Sri Ragavendira Nagar.

• Subramaniya Bharathi Street: Rs 2,200 per sq.ft (2024)
• Solaiyappan Street: Rs 3,900 per sq.ft (2024)
• S I S I Colony Samy Nagar: Rs 2,800 per sq.ft (2024)
• S I S I Colony: Rs 3,900 per sq.ft (2024)
• Thamos Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Thamos Nagar Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendira Nagar

For a property in Sri Ragavendira Nagar, the guideline value for a 1,000 sq.ft plot is Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. Please note that 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 Ragavendira Nagar?

The Sub Registrar Office that covers Sri Ragavendira Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Ullagaram, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees applicable for the transaction, ensuring that these costs are calculated based on a standardized value set by the government.

The guideline value helps maintain transparency in property transactions. Buyers and sellers must be aware of the current guideline value to ensure that they are paying the correct amount for stamp duty and registration fees, which are mandatory for legal property transfers.

Frequently asked questions

What is the current guideline value for Sri Ragavendira Nagar?

The current guideline value for Sri Ragavendira Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 234 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1097% over the years.

What is the stamp duty for property in Sri Ragavendira Nagar?

The stamp duty for a property in Sri Ragavendira Nagar is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,96,000.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Sri Ragavendira Nagar?

Sri Ragavendira Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.