Guideline Value for Sri Ragavendra Nagar

Sri Ragavendra Nagar guideline value

The current guideline value of Sri Ragavendra Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed 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 significant changes. The earliest recorded figure is from 2003, where the guideline value was Rs 63 per sq.ft. This value increased to Rs 300 per sq.ft in 2007, marking a rise of 376%. In 2012, the value further increased to Rs 1,400 per sq.ft, reflecting a 367% change. However, it then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The value continued to rise to Rs 1,800 per sq.ft in 2023, showing a substantial increase of 92%. Currently, the guideline value stands at Rs 1,980 per sq.ft following a 10% increase from the 2023 revision.

The register does not contain a figure for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 3043%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with a median value of Rs 1,980 per sq.ft. Sri Ragavendra Nagar's 2024 figure aligns with this median.

• Srinivasa Nagar: Rs 1,980 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 1,980 per sq.ft (2024)
• Sri Sayee Nagar Extension: Rs 2,090 per sq.ft (2024)
• Sri Thangam Avenue: Rs 1,760 per sq.ft (2024)
• Sri Thangam Avenue Annexe: Rs 1,760 per sq.ft (2024)
• Sri Kumarasamy Nagar: Rs 2,130 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 guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 further calculations.

Which Sub Registrar Office covers Sri Ragavendra Nagar?

Sri Ragavendra Nagar falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Chikkarayapuram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When a property is sold, the registration office will assess the guideline value to ensure that the correct fees are applied. This ensures that the transaction is compliant with local regulations and reflects the current market conditions.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Nagar?

The current guideline value of Sri Ragavendra Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 63 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, showing significant increases over the years, including a 10% rise from 2023 to 2024.

What are the stamp duty and registration fees for properties in Sri Ragavendra Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Sri Ragavendra Nagar?

The Kunrathur Sub Registrar Office covers Sri Ragavendra Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Sri Ragavendra Nagar?

The land classification for Sri Ragavendra Nagar is Mixed Special Type - I, which indicates the type of development and usage permitted in the area.