Guideline Value for Sri Ragavendra Nagar

Sri Ragavendra Nagar guideline value

The current guideline value of Sri Ragavendra Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Ragavendra Nagar has changed

The guideline value for Sri Ragavendra Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 has raised the value to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 59%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The increase from 2017 to 2023 was significant at 49%, indicating a notable change in the guideline value over that period.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value for Sri Ragavendra Nagar.

• Sri Ragavendra Avenue Annex: Rs 1,600 per sq.ft (2024)
• Sri Ragavendra Nagar Extension: Rs 1,600 per sq.ft (2024)
• Sri Ragavendra Nagar (Ponniamman Medu): Rs 1,600 per sq.ft (2024)
• Sriragavendra Nagar,Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Sri Ragavendran Avenue: Rs 1,600 per sq.ft (2024)
• Sri Ramachandra Nagar: Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Ragavendra Nagar?

The Sub Registrar Office that covers Sri Ragavendra Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the stamp duty is calculated based on the higher amount between the guideline value and the sale price. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Ragavendra Nagar?

The current guideline value of Sri Ragavendra Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 59% over this period.

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

For a 1,000 sq.ft plot, the total guideline value would be Rs 16,00,000. The stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Sri Ragavendra Nagar?

The Madhavaram Sub Registrar Office handles registrations for Sri Ragavendra Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current guideline value for Sri Ragavendra Nagar.