Guideline Value for Veera Ragavalu Nagar Extension

Veera Ragavalu Nagar Extension guideline value

The current guideline value of Veera Ragavalu Nagar Extension is Rs 2,300 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village, under the Ambattur SRO, and is classified as Mixed Type - II land.

How the guideline value of Veera Ragavalu Nagar Extension has changed

The guideline value for Veera Ragavalu Nagar Extension has seen significant changes over the years. In 2002, the value was Rs 84 per sq.ft, which increased to Rs 100 per sq.ft in 2003. Following this, there was a substantial rise to Rs 800 per sq.ft in 2007, marking a 700% increase. The value then rose to Rs 2,100 per sq.ft in 2012, reflecting a 163% increase. However, between 2012 and 2017, the value decreased to Rs 1,407 per sq.ft, which is a decline of 33%. The value increased again to Rs 2,100 per sq.ft in 2023, and currently stands at Rs 2,300 per sq.ft as of the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,638%. The register has no figures for the years not specifically mentioned for this street.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,500 per sq.ft, placing Veera Ragavalu Nagar Extension above this median.

• Veera Ragavalu Nagar: Rs 2,300 per sq.ft (2024)
• Vaibhav Enclave: Rs 2,800 per sq.ft (2024)
• Vinayakar Koil Street: Rs 1,300 per sq.ft (2024)
• V.M.K.Nagar: Rs 2,000 per sq.ft (2024)
• Thiru-Vi-Ka Street: Rs 2,000 per sq.ft (2024)
• V.O.C.Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veera Ragavalu Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value would be Rs 23,00,000. The stamp duty at 7% would amount to Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, bringing the total cost for these fees to Rs 2,07,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veera Ragavalu Nagar Extension?

The Sub Registrar Office that covers Veera Ragavalu Nagar Extension is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure that the transaction is compliant with local regulations.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Veera Ragavalu Nagar Extension?

The current guideline value of Veera Ragavalu Nagar Extension is Rs 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 84 per sq.ft to Rs 2,300 per sq.ft in 2024, reflecting an overall increase of 2,638%.

What is the median guideline value in Kathirvedu?

The median guideline value in Kathirvedu village is Rs 1,500 per sq.ft, with Veera Ragavalu Nagar Extension's value being above this median.

What are the stamp duty and registration fees for property in Veera Ragavalu Nagar Extension?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,07,000.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Veera Ragavalu Nagar Extension, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.