Guideline Value for R.R.C. Road

R.R.C. Road guideline value

The current guideline value of R.R.C. Road in Naravarikuppam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of R.R.C. Road has changed

The guideline value of R.R.C. Road has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. Following this, the value surged to Rs 2,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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 267%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of R.R.C. Road is above this median.

• Sakthikan Mestri Street: Rs 1,870 per sq.ft (2024)
• Ramalinga Nagar: Rs 2,200 per sq.ft (2024)
• Ramalinga Adigalar Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Raghavel Naicker Street Lane: Rs 1,650 per sq.ft (2024)
• Ragavalu Nayakkar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in R.R.C. Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers R.R.C. Road?

The Sub Registrar Office that covers R.R.C. Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of R.R.C. Road?

The current guideline value of R.R.C. Road is Rs 2,200 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 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267%.

What is the median guideline value in Naravarikuppam?

The median guideline value in Naravarikuppam is Rs 1,650 per sq.ft, with R.R.C. Road's value being above this median.

What are the stamp duty and registration fees for properties in R.R.C. Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for R.R.C. Road?

The Redhills Sub Registrar Office handles property registrations for R.R.C. Road, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.