Guideline Value for RISHI HILL VIEW CO-OP NAGAR PHASE-II

Rishi Hill View Co-Op Nagar Phase-II guideline value

The current guideline value of Rishi Hill View Co-Op Nagar Phase-II is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Allappakkam village, under the Chengleput Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rishi Hill View Co-Op Nagar Phase-II has changed

The guideline value for Rishi Hill View Co-Op Nagar Phase-II has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 800 per sq.ft. From 2012 to 2017, the value decreased by 33% to Rs 536 per sq.ft, before increasing by 49% to Rs 800 per sq.ft in 2023. The most recent revision in 2024 has maintained this value at Rs 800 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 800 per sq.ft.

Guideline values in Allappakkam

In Allappakkam, there are 51 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 600 to Rs 2,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value of Rishi Hill View Co-Op Nagar Phase-II is below this median.

• Rishi Hill View Co-Op Nagar Phase-I: Rs 800 per sq.ft (2024)
• Rishi Hill View Co-Op Nagar Phase-III: Rs 800 per sq.ft (2024)
• Rish Hill View co-Operative Nagar: Rs 800 per sq.ft (2024)
• Roja Garden: Rs 1,102 per sq.ft (2024)
• Rangaswamy Nagar: Rs 1,200 per sq.ft (2024)
• Sai Kiruba Nagar: Rs 1,102 per sq.ft (2024)

Stamp duty and registration fee for property in Rishi Hill View Co-Op Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rishi Hill View Co-Op Nagar Phase-II?

The Rishi Hill View Co-Op Nagar Phase-II falls under the jurisdiction of the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Allappakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rishi Hill View Co-Op Nagar Phase-II?

The current guideline value of Rishi Hill View Co-Op Nagar Phase-II is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a decrease to Rs 536 per sq.ft in 2017, followed by an increase back to Rs 800 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Rishi Hill View Co-Op Nagar Phase-II?

The Chengleput Joint I Sub Registrar Office handles registrations for Rishi Hill View Co-Op Nagar Phase-II. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Rishi Hill View Co-Op Nagar Phase-II?

Rishi Hill View Co-Op Nagar Phase-II is classified as Residential Class I Type - I, indicating its suitability for residential development.