Guideline Value for RAINBOW GARDEN

Rainbow Garden guideline value

The current guideline value of Rainbow Garden in Venkatapuram village is Rs 1,344 per sq.ft, effective from the 2024 revision. This area falls under the Chengleput Joint II SRO and is classified as Mixed Type - II land.

How the guideline value of Rainbow Garden has changed

In the 2023 revision, the guideline value for Rainbow Garden was set at Rs 1,344 per sq.ft. The same value has been maintained in the 2024 revision, showing no change between these two years, with a percentage change of +0% from 2023 to 2024. The register has no figures for this street in the years 2017, 2012, 2007, 2003, and 2002.

As per the available revisions, the guideline value for Rainbow Garden has remained consistent at Rs 1,344 per sq.ft since 2023. This stability indicates that the value has not fluctuated in recent years, reflecting the same figure across the two most recent revisions.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Rainbow Garden is above this median, indicating a higher valuation compared to many other streets in the village.

• Ragavendra Nagar: Rs 400 per sq.ft (2024)
• Rajesh Nagar: Rs 400 per sq.ft (2024)
• Plantinam Nagar Phase-II: Rs 500 per sq.ft (2024)
• Sairam Nagar: Rs 500 per sq.ft (2024)
• Sairam Nagar Extension II: Rs 1,200 per sq.ft (2024)
• Sairam Nagar Extn: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Rainbow Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,344 per sq.ft, the total guideline value amounts to Rs 13,44,000. The stamp duty at 7% would be Rs 94,080, and the registration fee at 2% would be Rs 26,880, resulting in a total of Rs 1,20,960. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations based on your specific property transaction.

Which Sub Registrar Office covers Rainbow Garden?

The Rainbow Garden area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can find your SRO online.

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

The guideline value plays a crucial role in property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the costs associated with registration. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rainbow Garden?

The current guideline value of Rainbow Garden is Rs 1,344 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value for Rainbow Garden has remained unchanged at Rs 1,344 per sq.ft from 2023 to 2024, with no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Rainbow Garden?

Rainbow Garden is classified as Mixed Type - II land according to the Chengleput Joint II SRO guidelines.

What are the stamp duty and registration fees for property in Rainbow Garden?

For a 1,000 sq.ft plot at the guideline value of Rs 1,344 per sq.ft, the total guideline value is Rs 13,44,000. The stamp duty at 7% is Rs 94,080, and the registration fee at 2% is Rs 26,880, totaling Rs 1,20,960.

Which Sub Registrar Office covers Rainbow Garden?

The Chengleput Joint II Sub Registrar Office covers Rainbow Garden, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.