Guideline Value for RIO Teak garden

RIO Teak garden guideline value

The current guideline value for RIO Teak garden is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Sokandi village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of RIO Teak garden has changed

Looking at the past revisions, the guideline value for RIO Teak garden was Rs 250 per sq.ft in both the 2023 and 2024 revisions. Prior to that, in the 2017 revision, the value was Rs 167 per sq.ft, indicating a 50% increase to the 2023 figure. The 2012 revision also listed the value at Rs 250 per sq.ft, showing a decrease of 33% when compared to the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 250 per sq.ft.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing RIO Teak garden's 2024 figure below that median.

• Sagaya Annai Nagar: Rs 200 per sq.ft (2024)
• Sebastian Avenue: Rs 450 per sq.ft (2024)
• Selvapuram: Rs 300 per sq.ft (2024)
• Selvapuram Nagar Ext: Rs 600 per sq.ft (2024)
• Selvapuram Part-I: Rs 300 per sq.ft (2024)
• SelvaPuram Part-II: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in RIO Teak garden

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees together to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RIO Teak garden?

The RIO Teak garden falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Sokandi. It serves as a basis for calculating stamp duty and registration fees, ensuring that the transaction is officially recorded at the appropriate value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs associated with the transaction. Buyers and sellers should consult the latest figures to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for RIO Teak garden?

The current guideline value for RIO Teak garden is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 250 in 2012 to Rs 167 in 2017, then back to Rs 250 in 2023 and 2024. The most significant change was a 50% increase from 2017 to 2023.

What is the land classification for RIO Teak garden?

RIO Teak garden is classified as Residential Special Type - III, indicating its designated use for residential purposes within the area.

Where can I find the Sub Registrar Office for RIO Teak garden?

The Sub Registrar Office covering RIO Teak garden is the Sunguvarchattram SRO, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in RIO Teak garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft incurs a total guideline value of Rs 2,50,000, leading to specific stamp duty and registration fees.