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Guideline Value

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Guideline Value for Sri Ragavendra Modern Town

₹660/sq.ft.

The guideline value for Sri Ragavendra Modern Town in Sholavaram village (Redhills SRO, Chennai zone) is Rs 660 per sq.ft, effective 1 July 2024. It was Rs 600 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholavaram

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹660 /sq.ft.
From 1-4-2023 ₹600 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹402 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹600 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹23 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Ragavendra Modern Town

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Sri Ragavendra Modern Town guideline value

The current guideline value of Sri Ragavendra Modern Town is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village, under the Redhills Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Sri Ragavendra Modern Town has changed

The guideline value of Sri Ragavendra Modern Town has seen several revisions over the years. The earliest recorded figure is from 2003, when it was Rs 23 per sq.ft. This value increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 1204%. In 2012, the value was revised to Rs 600 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, it dropped to Rs 402 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 600 per sq.ft in 2023, and finally, it reached Rs 660 per sq.ft in the 2024 revision, an increase of 10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2770%. Notably, the register has no figure for the year 2002 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value is Rs 660 per sq.ft, which aligns with the current guideline value of Sri Ragavendra Modern Town.

Stamp duty and registration fee for property in Sri Ragavendra Modern Town

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Ragavendra Modern Town?

Sri Ragavendra Modern Town falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Sholavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value will be compared to the sale price. The higher of the two values will be used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Modern Town?

The current guideline value of Sri Ragavendra Modern Town is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 23 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 2770% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations in Sri Ragavendra Modern Town?

The Redhills Sub Registrar Office handles property registrations for Sri Ragavendra Modern Town, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the appropriate fees are collected based on the higher of the guideline value or the sale price.