Guideline Value for RETHIKA GARDEN PHASE -IV

Rethika Garden Phase -IV guideline value

The current guideline value of Rethika Garden Phase -IV is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Kavanur village under the Gooduvancheri SRO, classified as Residential Special Type - IV.

How the guideline value of Rethika Garden Phase -IV has changed

The guideline value for Rethika Garden Phase -IV has seen several revisions over the years. The earliest recorded revision was in 2017, which set the value at Rs 670 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded the value at Rs 1,000 per sq.ft. The most recent revision in 2024 maintained this value at Rs 1,000 per sq.ft, showing no percentage change from the previous year. Overall, from 2017 to 2024, the guideline value increased by 49%.

Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The consistent value of Rs 1,000 per sq.ft from 2023 to 2024 indicates stability in the guideline value during this period, while the significant increase from 2017 to 2023 reflects a notable change of 49%.

Guideline values in Kavanur

Kavanur village has 109 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,239 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value for Rethika Garden Phase -IV is above this median.

• Rethika Garden Phase -III: Rs 1,000 per sq.ft (2024)
• Rithika Avenue Exten-II: Rs 800 per sq.ft (2024)
• Rithika Avenue Extension -I: Rs 800 per sq.ft (2024)
• Rithika Avenue Extension -II: Rs 800 per sq.ft (2024)
• Rithika Avenue Extension -III: Rs 800 per sq.ft (2024)
• Rithika Garden Phase I: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rethika Garden Phase -IV

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 at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rethika Garden Phase -IV?

The Sub Registrar Office that covers Rethika Garden Phase -IV is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the costs associated with the property transfer.

When registering a property, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Rethika Garden Phase -IV?

The current guideline value of Rethika Garden Phase -IV is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft since 2023, showing no change in the 2024 revision. The value increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the land classification of Rethika Garden Phase -IV?

Rethika Garden Phase -IV is classified as Residential Special Type - IV, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Rethika Garden Phase -IV located?

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

How is stamp duty calculated for properties in Kavanur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 10,00,000 would incur a stamp duty of Rs 70,000 at the rate of 7%.