Guideline Value for RAVISHANKAR GARDEN

Ravishankar Garden guideline value

The current guideline value of Ravishankar Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Ravishankar Garden has changed

The guideline value for Ravishankar Garden has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 65%. The 2023 to 2024 change reflects a 10% rise, while the jump from 2017 to 2023 shows a substantial increase of 124%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Ravishankar Garden is above this median.

• Rani Garden: Rs 1,700 per sq.ft (2024)
• Ranganathan Garden: Rs 1,000 per sq.ft (2024)
• Ramanujam Garden: Rs 1,700 per sq.ft (2024)
• Sakthi Nagar: Rs 1,700 per sq.ft (2024)
• Ramachari Garden: Rs 1,000 per sq.ft (2024)
• Salammal Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ravishankar Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ravishankar Garden?

The Sub Registrar Office that covers Ravishankar Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Ravishankar Garden?

The current guideline value of Ravishankar Garden is Rs 3,300 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 3,300 per sq.ft in 2024, with significant increases in 2023 and 2024.

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

For a 1,000 sq.ft property, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Ravishankar Garden?

The Neelankarai Sub Registrar Office handles registrations for Ravishankar Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, while Ravishankar Garden's value is above this median.