Guideline Value for RAVI STREET

Ravi Street guideline value

The current guideline value of Ravi Street in Zaminpallavaram village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Ravi Street has changed

The guideline value for Ravi Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which was then revised to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. The value increased significantly to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,160 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Ravi Street's 2024 figure below this median.

• Rayapettai Odai 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai Street: Rs 2,750 per sq.ft (2024)
• R.B.Colony 1 To 5 Streets: Rs 3,300 per sq.ft (2024)
• Rangaswamy Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ravi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, leading to a total of Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ravi Street?

The Sub Registrar Office that covers Ravi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Zaminpallavaram. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government norms.

When buying or selling property, the guideline value also influences the stamp duty and registration fees that need to be paid. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Ravi Street?

The current guideline value of Ravi Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Ravi Street?

Ravi Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ravi Street?

The Sub Registrar Office for Ravi Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ravi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000.