Guideline Value for REVATHI NAGAR

Revathi Nagar guideline value

The current guideline value of Revathi Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Revathi Nagar has changed

Over the years, the guideline value of Revathi Nagar has seen significant changes. In 2003, the guideline value was Rs 34 per sq.ft, which increased to Rs 50 per sq.ft in 2007. The value then rose sharply to Rs 450 per sq.ft in 2012, followed by a decrease to Rs 301 per sq.ft in 2017. The most recent revisions show the value at Rs 1,000 per sq.ft in both 2023 and 2024, indicating no change between these two years. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 232%. The increase from 2012 to 2017 was a decrease of 33%, while the rise from 2007 to 2012 was an increase of 800%. From 2003 to 2007, the increase was 47%. Overall, from 2003 to 2024, the guideline value has increased by 2,841%.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, and Revathi Nagar's current figure is below this median.

• R.K. Nagar: Rs 1,002 per sq.ft (2024)
• Ramalakshmi Nagar: Rs 1,002 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Pancavarnam Street: Rs 1,001 per sq.ft (2024)
• Nethaji Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Revathi Nagar

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. 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 Revathi Nagar?

The Sub Registrar Office that covers Revathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sadayankuppam. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded at a value that reflects the market conditions and legal standards.

Frequently asked questions

What is the current guideline value of Revathi Nagar?

The current guideline value of Revathi Nagar 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 changed significantly from Rs 34 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 2,841% over this period.

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

For a 1,000 sq.ft plot valued at Rs 1,000 per sq.ft, the total stamp duty and registration fees would amount to Rs 90,000, calculated based on the guideline value.

Which office handles property registration in Revathi Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for Revathi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher of the guideline value or the sale price is taken into account for these calculations.