Guideline Value for Sri Raghavendra Nagar

Sri Raghavendra Nagar guideline value

The current guideline value for Sri Raghavendra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Erandankattalai village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Sri Raghavendra Nagar has changed

The guideline value for Sri Raghavendra Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase of 10% from the 2023 revision of Rs 1,000 per sq.ft. Prior to this, the 2017 revision recorded a value of Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 figure. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. The steady rise in the guideline value reflects the changing landscape of property valuation in the area.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 770 to Rs 4,270 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the guideline value of Sri Raghavendra Nagar.

• Sri Raghavendra Nagar Extn: Rs 1,100 per sq.ft (2024)
• Sri Ram Avenue: Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 6): Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 5): Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 4): Rs 1,100 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. 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 more detailed calculations.

Which Sub Registrar Office covers Sri Raghavendra Nagar?

Sri Raghavendra Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Erandankattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Sri Raghavendra Nagar?

The current guideline value for Sri Raghavendra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets with the same guideline value in Erandankattalai?

Other streets in Erandankattalai with the same guideline value of Rs 1,100 per sq.ft for 2024 include Sri Raghavendra Nagar Extn, Sri Ram Avenue, and several wards of Srinivasa Perumal Koil Street.

What is the stamp duty rate for property transactions in Sri Raghavendra Nagar?

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

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.