Guideline Value for Veera Ragavalu Nagar

Veera Ragavalu Nagar guideline value

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

How the guideline value of Veera Ragavalu Nagar has changed

The guideline value for Veera Ragavalu Nagar has seen several revisions over the years. Starting from Rs 84 per sq.ft in 2002, it increased to Rs 100 in 2003, marking a 19% rise. The value then surged dramatically to Rs 800 in 2007, reflecting a 700% increase. Following this, the value adjusted to Rs 2,100 in 2012, which was a decrease of 33%. The guideline value then rose to Rs 1,407 in 2017, showing a 49% increase from the previous figure. In 2023, it further increased to Rs 2,100, and the latest revision in 2024 set it at Rs 2,300, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2638%. There are no figures available for revisions in the years not mentioned in the register.

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, with a median value of Rs 1,500 per sq.ft. The guideline value for Veera Ragavalu Nagar is above this median.

• Veera Ragavalu Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value amounts to Rs 23,00,000. The stamp duty is charged at 7%, which totals Rs 1,61,000, while the registration fee at 2% amounts to Rs 46,000. Together, the total cost for stamp duty and registration fee would be Rs 2,07,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veera Ragavalu Nagar?

The Sub Registrar Office covering Veera Ragavalu Nagar 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kathirvedu. It determines the minimum value at which the property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Veera Ragavalu Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 84 per sq.ft in 2002 to Rs 2,300 per sq.ft in 2024, reflecting an overall increase of 2638% over the years.

What is the land classification for Veera Ragavalu Nagar?

The land classification for Veera Ragavalu Nagar is Mixed Type - II.

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

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 23,00,000, the total stamp duty and registration fee would be Rs 2,07,000.

Where is the Sub Registrar Office located for Veera Ragavalu Nagar?

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