Guideline Value for REVATHI AVENUE

Revathi Avenue guideline value

The current guideline value of Revathi Avenue, located in Siruniyam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Revathi Avenue has changed

The guideline value for Revathi Avenue has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 502 per sq.ft, which remained unchanged in the subsequent 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 550 per sq.ft, reflecting a 10% rise from the previous year.

Prior to 2017, the register has no figures for Revathi Avenue for the years 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing Revathi Avenue's 2024 figure above this median.

• Revathi Avenue: Rs 550 per sq.ft (2024)
• Rehoboth Avenue: Rs 220 per sq.ft (2024)
• Siruniam - Angadu Road: Rs 440 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 440 per sq.ft (2024)
• Perumal Koil Street (Siruniyam Colony): Rs 330 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Revathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee, at 2%, would be Rs 11,000, leading to a total of Rs 49,500 for these charges. Duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Revathi Avenue?

The Sub Registrar Office that covers Revathi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Revathi Avenue?

The current guideline value of Revathi Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 502 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, reflecting a 10% increase. There were no figures recorded for the years 2002, 2003, 2007, and 2012.

What is the land classification for Revathi Avenue?

Revathi Avenue is classified as Mixed Type - II, which indicates the type of land use permitted in the area.

What are the stamp duty and registration fees for property in Revathi Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total charges would amount to Rs 49,500.

Which office handles property registrations for Revathi Avenue?

The Redhills Sub Registrar Office handles property registrations for Revathi Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.