Guideline Value for VEERA RAGAVA NAGAR

Veera Ragava Nagar guideline value

The current guideline value of Veera Ragava Nagar is Rs 626 per sq.ft, effective from 1 July 2024. This locality is situated in Kakkalur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - III.

How the guideline value of Veera Ragava Nagar has changed

The guideline value for Veera Ragava Nagar has seen several revisions over the years. In 2012, the value was Rs 625 per sq.ft, which decreased to Rs 419 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 626 per sq.ft. The 2023 revision also maintained the same value of Rs 626 per sq.ft for the 2024 revision, resulting in a change of 0%.

It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 626 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is the same as the current value for Veera Ragava Nagar.

• Veera Anjaneya Puram / Nagar: Rs 626 per sq.ft (2024)
• Vel Murugan Nagar: Rs 626 per sq.ft (2024)
• Vengopal Street: Rs 626 per sq.ft (2024)
• Valluvar Cross Street: Rs 626 per sq.ft (2024)
• Venkatswara Nagar: Rs 626 per sq.ft (2024)
• Vetri Nagar: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Veera Ragava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, while the registration fee at 2% would be Rs 12,520. Together, the total cost for stamp duty and registration fees would be Rs 56,340. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Veera Ragava Nagar?

The Sub Registrar Office that covers Veera Ragava Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more information, you can find your SRO.

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

When buying or selling property in Kakkalur, the guideline value plays a critical role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, and it serves as a benchmark for calculating these fees.

At the time of registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Veera Ragava Nagar?

The current guideline value of Veera Ragava Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in 2023 and remained the same for 2024.

What is the land classification of Veera Ragava Nagar?

Veera Ragava Nagar is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for a property in Veera Ragava Nagar?

For a property valued at Rs 6,26,000, the stamp duty would be Rs 43,820 and the registration fee would be Rs 12,520, totaling Rs 56,340.

Which office handles property registration in Kakkalur?

The Tiruvallur Joint 1 Sub Registrar Office handles property registration in Kakkalur, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.