Guideline Value for RAKESH AVENUE PHASE-I

Rakesh Avenue Phase-I guideline value

The current guideline value of Rakesh Avenue Phase-I is Rs 1,000 per sq.ft. This property is located in Rathinamangalam village, under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Rakesh Avenue Phase-I has changed

In the 2017 revision, the guideline value was set at Rs 670 per sq.ft. This marked a significant change from the previous revisions, which have no figures available for the years 2002, 2003, 2007, and 2012. The most recent 2023 revision increased the guideline value to Rs 1,000 per sq.ft, reflecting a change of 49% from the 2017 figure.

Thus, the guideline value has evolved from Rs 670 in 2017 to Rs 1,000 in 2023. This increase highlights the adjustments made in the guideline values over the years, although there are no figures available for several earlier revisions.

Guideline values in Rathinamangalam

Currently, the guideline value for Rakesh Avenue Phase-I stands at Rs 1,000 per sq.ft. There are no specific guideline values provided for other streets in Rathinamangalam under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Rakesh Avenue Phase-I

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rakesh Avenue Phase-I?

The Rakesh Avenue Phase-I is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Rathinamangalam. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the fees reflect the true value of the transaction, safeguarding the interests of both the buyer and the government.

Frequently asked questions

What is the current guideline value of Rakesh Avenue Phase-I?

The current guideline value of Rakesh Avenue Phase-I is Rs 1,000 per sq.ft, as per the 2023 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,000 per sq.ft, which is a change of 49%.

Are there any guideline values for previous years?

The register has no figures for the years 2002, 2003, 2007, and 2012 for Rakesh Avenue Phase-I. The only revisions with figures are from 2017 and 2023.

What are the registration fees for property in Rakesh Avenue Phase-I?

The registration fees for property in Rakesh Avenue Phase-I include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.