Guideline Value for Sri Raghavan Nagar

Sri Raghavan Nagar guideline value

The current guideline value of Sri Raghavan Nagar, located in Palavayal village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Raghavan Nagar has changed

The guideline value for Sri Raghavan Nagar has seen several revisions over the years. In 2003, the value was Rs 18 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then rose to Rs 400 per sq.ft in 2012, before experiencing a decrease to Rs 268 per sq.ft in 2017. Following this, the value increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024. The register has no figure for this street in 2002.

Between the revisions, the changes are notable. From 2003 to 2007, there was a remarkable increase of 1567%. The value then decreased by 33% from 2012 to 2017. However, from 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2003 to 2024, the guideline value has increased by 2344%.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 1,200 per sq.ft. The median value among these streets is Rs 440 per sq.ft, which is the same as the guideline value for Sri Raghavan Nagar.

• Sri Ram Nagar Phase-2: Rs 880 per sq.ft (2024)
• Sri Ganesh Balaji Avenue: Rs 440 per sq.ft (2024)
• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sothupakkam Road: Rs 440 per sq.ft (2024)
• Vaanamamalai Nagar: Rs 275 per sq.ft (2024)
• Raghavan Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800. Therefore, the total cost for these fees would be Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Raghavan Nagar?

The Sub Registrar Office that covers Sri Raghavan Nagar is 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 Palavayal

The guideline value is a critical factor during the registration process of property transactions in Palavayal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both parties to understand this value, as it impacts the overall cost incurred during the registration process.

Frequently asked questions

What is the current guideline value of Sri Raghavan Nagar?

The current guideline value of Sri Raghavan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 18 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, with various increases and decreases across the years.

What is the registration office for Sri Raghavan Nagar?

The registration office for Sri Raghavan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Raghavan Nagar?

Stamp duty for properties in Sri Raghavan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher.

What are the guideline values of other streets in Palavayal?

Other streets in Palavayal have varying guideline values, ranging from Rs 275 to Rs 1,200 per sq.ft, with Sri Raghavan Nagar's value being equal to the median of Rs 440 per sq.ft.