Guideline Value for Sri Ragavendran Avenue

Sri Ragavendran Avenue guideline value

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

How the guideline value of Sri Ragavendran Avenue has changed

The guideline value for Sri Ragavendran Avenue has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 59%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, a total of 1,946 streets fall under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which aligns with the current guideline value of Sri Ragavendran Avenue.

• Sriragavendra Nagar,Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Sri Ragavendra Nagar (Ponniamman Medu): Rs 1,600 per sq.ft (2024)
• Sri Ragavendra Nagar Extension: Rs 1,600 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 1,600 per sq.ft (2024)
• Sri Ragavendra Avenue Annex: 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 Ragavendran Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost together to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ragavendran Avenue?

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

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value helps ensure that both parties are aware of the official valuation of the property, which is necessary for legal and financial processes involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Ragavendran Avenue?

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

How much 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, representing a total increase of 59% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at 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 Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Sri Ragavendran Avenue.

What other streets have similar guideline values in Madhavaram?

Several other streets in Madhavaram also have a guideline value of Rs 1,600 per sq.ft, including Sri Ragavendra Nagar and Sri Ragavendra Nagar Extension, among others.