Guideline Value for SriRagavendra Nagar

SriRagavendra Nagar guideline value

The current guideline value for SriRagavendra Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Mettupalayam village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of SriRagavendra Nagar has changed

Over the years, the guideline value for SriRagavendra Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a significant rise of 300%. However, the value dropped to Rs 134 per sq.ft in 2017, which was a decrease of 33%. Following this, the value remained unchanged at Rs 200 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from the 2017 revision.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft, with a median value of Rs 181 per sq.ft. The guideline value for SriRagavendra Nagar is above this median.

• Sri Parameshwari Farm Land: Rs 200 per sq.ft (2024)
• SriGayathiri Nagar: Rs 200 per sq.ft (2024)
• Smart City Phase-2: Rs 900 per sq.ft (2024)
• Smart City: Rs 500 per sq.ft (2024)
• Saneeshvarar kovil Street: Rs 200 per sq.ft (2024)
• Vaishnavi Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in SriRagavendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers SriRagavendra Nagar?

The Sub Registrar Office that covers SriRagavendra Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mettupalayam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered, thereby facilitating a transparent transaction process.

Frequently asked questions

What is the current guideline value of SriRagavendra Nagar?

The current guideline value of SriRagavendra Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then dropping to Rs 134 per sq.ft in 2017, and remaining at Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification of SriRagavendra Nagar?

SriRagavendra Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 18,000.

Which office handles property registrations for SriRagavendra Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for property registrations in SriRagavendra Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.