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

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

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

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

The guideline value for Rishi Hill View Co-Op Nagar Phase-I has seen several revisions over the years. In 2012, the guideline value was set at Rs 800 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, reflecting a decrease of 33%. However, by the 2023 revision, the value increased significantly to Rs 800 per sq.ft, marking a 49% rise from the 2017 figure. The current 2024 revision maintains 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 this street in the revisions for the years 2002, 2003, and 2007. Therefore, the most recent figures are from 2012, 2017, 2023, and 2024.

Guideline values in Allappakkam

In Allappakkam, there are 51 streets under the Chengleput Joint I SRO that carry 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 for Rishi Hill View Co-Op Nagar Phase-I is below this median.

• Rishi Hill View Co-Op Nagar Phase-II: Rs 800 per sq.ft (2024)
• Rish Hill View co-Operative Nagar: Rs 800 per sq.ft (2024)
• Rishi Hill View Co-Op Nagar Phase-III: 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-I

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Rishi Hill View Co-Op Nagar Phase-I falls under 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Allappakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is used to determine the amount of tax payable. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the government.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining it at Rs 800 per sq.ft. The value was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2012.

What are the stamp duty and registration fees for a property in this area?

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.

Which office handles the registration for Rishi Hill View Co-Op Nagar Phase-I?

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

How is the guideline value determined in Allappakkam?

The guideline value in Allappakkam is determined by the local registration department and varies by street. It is used to calculate stamp duty and registration fees during property transactions.