Guideline Value for REVA

Reva guideline value

The current guideline value of Reva, located in Paruthipattu village under the Avadi SRO, is Rs 1,925 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Reva has changed

The guideline value for Reva has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,925 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 1,750 per sq.ft. Prior to that, the 2017 revision also had the value at Rs 1,750 per sq.ft, indicating no change from 2017 to 2023. The register has no figure for the years 2012, 2007, 2003, and 2002 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. This shows a steady adjustment in the valuation of property in Reva over the years.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,730 per sq.ft. The median guideline value for these streets is Rs 1,625 per sq.ft, placing Reva's 2024 figure above this median.

• River Bank St: Rs 801 per sq.ft (2024)
• Reddypalayam Main Road: Rs 950 per sq.ft (2024)
• Rangammal Nagar: Rs 801 per sq.ft (2024)
• Ram Nagar 5th Street: Rs 1,625 per sq.ft (2024)
• Ram Nagar 4th Street: Rs 1,625 per sq.ft (2024)
• Ram Nagar 3rd Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Reva

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, while the registration fee at 2% would be Rs 38,500, bringing the total to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Reva?

The Reva area falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Paruthipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the current market standards set by the registration department. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Reva?

The current guideline value of Reva is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2023 to Rs 1,925 per sq.ft in 2024, reflecting a 10% increase. The value remained the same at Rs 1,750 per sq.ft from 2017 to 2023.

What is the median guideline value in Paruthipattu?

The median guideline value for the streets in Paruthipattu is Rs 1,625 per sq.ft, with Reva's 2024 figure being above this median.

What are the stamp duty and registration fees in Reva?

For a property valued at Rs 19,25,000, the stamp duty is Rs 1,34,750 and the registration fee is Rs 38,500, totaling Rs 1,73,250.

Which office handles property registrations in Reva?

The Avadi Sub Registrar Office is responsible for property registrations in Reva, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.