Guideline Value for REVATHY GARDEN

Revathy Garden guideline value

The current guideline value of Revathy Garden, located in Kovilkuppam village under the Manavalanagar SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Revathy Garden has changed

The guideline value for Revathy Garden has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to Rs 300 per sq.ft. The 2024 revision also maintains this value, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value from 2012 to 2024 remains unchanged at Rs 300 per sq.ft.

Guideline values in Kovilkuppam

In Kovilkuppam, there are 68 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Revathy Garden's 2024 figure is below this median.

• Rk Nagar: Rs 300 per sq.ft (2024)
• Ramasamy Nagar: Rs 300 per sq.ft (2024)
• Sanjeevi Nagar: Rs 300 per sq.ft (2024)
• Raja Rathinam Nagar: Rs 400 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 per sq.ft (2024)
• Pemmasani Avenue: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Revathy Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Revathy Garden?

The Sub Registrar Office that covers Revathy Garden is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kovilkuppam, as it determines the official value of the property for registration purposes. Buyers and sellers must consider this value when negotiating sales, as it influences the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value serves as a benchmark for calculating taxes and fees. It is essential for both parties to be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

Frequently asked questions

What is the current guideline value of Revathy Garden?

The current guideline value of Revathy Garden is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a drop to Rs 201 per sq.ft in 2017 and an increase back to Rs 300 per sq.ft in 2023.

What are the guideline values of other streets in Kovilkuppam?

Other streets in Kovilkuppam have guideline values ranging from Rs 300 to Rs 400 per sq.ft in 2024, with the median being Rs 350 per sq.ft.

What are the stamp duty and registration fees for properties in Revathy Garden?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 3,00,000, the total fees would amount to Rs 27,000.

Which office handles property registrations for Revathy Garden?

The Manavalanagar Sub Registrar Office handles property registrations for Revathy Garden, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.