Guideline Value for R.P.G RAINBOW CITY

R.P.G Rainbow City guideline value

The current guideline value of R.P.G Rainbow City is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Mamandoor village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of R.P.G Rainbow City has changed

Looking at the revisions, the guideline value for R.P.G Rainbow City was Rs 800 per sq.ft in 2023, which remained unchanged in the 2024 revision. The previous revision in 2017 listed the value at Rs 536 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 800 per sq.ft, showing a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 800 per sq.ft.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamandoor

In Mamandoor, there are 41 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft. The median guideline value in this area is Rs 500 per sq.ft, and R.P.G Rainbow City's current value is above this median.

• Sai Sri Sastha Nagar Phase 1 & 2: Rs 500 per sq.ft (2024)
• Raji Nagar: Rs 300 per sq.ft (2024)
• Raja Garden: Rs 400 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)
• S.P.Avenue: Rs 300 per sq.ft (2024)
• Pallava Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in R.P.G Rainbow City

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty is charged at 7%, which amounts to Rs 56,000, and the registration fee is charged at 2%, totaling Rs 16,000. Therefore, the total cost for stamp duty and registration would be Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers R.P.G Rainbow City?

The Sub Registrar Office that covers R.P.G Rainbow City is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mamandoor, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

During the registration process, if the sale price of the property is higher than the guideline value, the duty will be charged on the sale price instead. This ensures that the government collects appropriate fees based on the actual transaction value or the guideline value, whichever is higher.

Frequently asked questions

What is the current guideline value for R.P.G Rainbow City?

The current guideline value for R.P.G Rainbow City is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the value remaining at Rs 800 per sq.ft in 2023 and 2024, increasing from Rs 536 per sq.ft in 2017. The value was also Rs 800 per sq.ft in 2012, showing a decrease of 33% from 2012 to 2017.

What are the guideline values for other streets in Mamandoor?

Other streets in Mamandoor have varying guideline values, ranging from Rs 300 to Rs 1,200 per sq.ft. For example, Sai Sri Sastha Nagar Phase 1 & 2 is valued at Rs 500 per sq.ft, while Raji Nagar is at Rs 300 per sq.ft.

What fees are associated with buying property in R.P.G Rainbow City?

When purchasing property in R.P.G Rainbow City, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a plot valued at Rs 8,00,000, the total stamp duty and registration fees would amount to Rs 72,000.

Where can I find my Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office covers R.P.G Rainbow City. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.