Guideline Value for RITHIKA AVENUE EXTEN-II

Rithika Avenue Exten-II guideline value

The current guideline value of Rithika Avenue Exten-II is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Kavanur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Rithika Avenue Exten-II has changed

Over the years, the guideline value for Rithika Avenue Exten-II has seen several revisions. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. However, it rebounded to Rs 800 per sq.ft in the 2023 revision, maintaining that value into the 2024 revision, which shows no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 800 per sq.ft. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant, with no percentage change. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, which aligns with the current guideline value for Rithika Avenue Exten-II.

• Rithika Avenue Extension -I: Rs 800 per sq.ft (2024)
• Rithika Avenue Extension -II: Rs 800 per sq.ft (2024)
• Rithika Avenue Extension -III: Rs 800 per sq.ft (2024)
• Rithika Garden Phase I: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase - II: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase -V: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rithika Avenue Exten-II

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, charged at 7%, would amount to Rs 56,000, while the registration fee at 2% would be Rs 16,000. Therefore, the total cost for stamp duty and registration fees would be Rs 72,000. 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 detailed calculations.

Which Sub Registrar Office covers Rithika Avenue Exten-II?

The Gooduvancheri Sub Registrar Office covers Rithika Avenue Exten-II. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kavanur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to assess the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Rithika Avenue Exten-II?

The current guideline value of Rithika Avenue Exten-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 a return to Rs 800 per sq.ft in 2023 and 2024.

Where can I find the registration office for Rithika Avenue Exten-II?

The registration office for Rithika Avenue Exten-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties 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. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification for Rithika Avenue Exten-II?

Rithika Avenue Exten-II is classified as Residential Special Type - III under the current guidelines.