Guideline Value for RITHERDON AVENUE

Ritherdon Avenue guideline value

The current guideline value of Ritherdon Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ritherdon Avenue has changed

Over the years, the guideline value of Ritherdon Avenue has seen several revisions. The 2007 revision set the value at Rs 7,000 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 5,360 per sq.ft. Following this, the 2023 revision raised it significantly to Rs 8,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The value changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, which is a decrease of 33%. The increase from 2007 to 2012 was 14%. Overall, from 2007 to 2024, the guideline value has increased by 26%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, placing Ritherdon Avenue's 2024 figure above this median.

• Ritherdon Lane: Rs 7,100 per sq.ft (2024)
• Ritherdon Road: Rs 8,800 per sq.ft (2024)
• Rotler Street: Rs 6,500 per sq.ft (2024)
• Rathinasabapathy Street: Rs 5,500 per sq.ft (2024)
• Rudrappa Street: Rs 5,500 per sq.ft (2024)
• Rundals Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ritherdon Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making a total of Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ritherdon Avenue?

The Sub Registrar Office covering Ritherdon Avenue is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the official value set by the authorities.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ritherdon Avenue?

The current guideline value of Ritherdon Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the stamp duty for property in Ritherdon Avenue?

The stamp duty for property in Ritherdon Avenue is 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a stamp duty of Rs 6,16,000.

Where is the Sub Registrar Office for Ritherdon Avenue located?

The Sub Registrar Office for Ritherdon Avenue is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Ritherdon Avenue's value being above this median at Rs 8,800 per sq.ft.