Guideline Value for R.R.T.Garden

R.R.T.Garden guideline value

The current guideline value of R.R.T.Garden in Naduveerapattu village, under the Padappai SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of R.R.T.Garden has changed

The guideline value for R.R.T.Garden has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, representing a 33% drop. In 2023, the value increased to Rs 600 per sq.ft again, and in the latest revision for 2024, it has risen to Rs 660 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, which is equal to the current value of R.R.T.Garden.

• R.R.T Garden phase-II: Rs 660 per sq.ft (2024)
• R.R.T Garden Phase-III: Rs 1,650 per sq.ft (2024)
• Sai Garden: Rs 1,540 per sq.ft (2024)
• Sai Greenfield: Rs 830 per sq.ft (2024)
• Ramesh Nagar: Rs 550 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in R.R.T.Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.R.T.Garden?

The R.R.T.Garden area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Naduveerapattu. It is used to determine the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is typically used as a benchmark for the transaction. This ensures that the fees collected by the government reflect the current market conditions as per the established guideline values.

Frequently asked questions

What is the current guideline value of R.R.T.Garden?

The current guideline value of R.R.T.Garden is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for R.R.T.Garden?

R.R.T.Garden is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in R.R.T.Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 660 per sq.ft would incur a total guideline value of Rs 6,60,000, leading to specific fees for stamp duty and registration.