Guideline Value for Sri Ragavendra Nagar

Sri Ragavendra Nagar guideline value

The current guideline value of Sri Ragavendra Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Sri Ragavendra Nagar has changed

Over the years, the guideline value of Sri Ragavendra Nagar has seen several revisions. In 2007, the guideline value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 390% rise. However, this value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

The overall change from 2007 to 2024 reflects a substantial increase of 390%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which aligns with the guideline value of Sri Ragavendra Nagar for 2024.

• Sri Ragavendra Nagar Extn-II to VIII: Rs 1,200 per sq.ft (2024)
• SRI Ramanar Nagar: Rs 1,201 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,201 per sq.ft (2024)
• Srinivasa Nagar Extn: Rs 1,200 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,200 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ragavendra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. Please note that the 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 Ragavendra Nagar?

The Sub Registrar Office that covers Sri Ragavendra Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration process when buying or selling property in Madambakkam. It serves as a reference for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and 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 Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and has remained at Rs 1,200 per sq.ft in 2023 and 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 1,200 per sq.ft, which is the same as the guideline value for Sri Ragavendra Nagar.

What are the stamp duty rates for property in Sri Ragavendra Nagar?

The stamp duty rate for property transactions in Sri Ragavendra Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sri Ragavendra Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.