Guideline Value for RITHIKA ENCLAVE PHASE - II

Rithika Enclave Phase - II guideline value

The current guideline value of Rithika Enclave Phase - II is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Kalvai village, under the Thiruporur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rithika Enclave Phase - II has changed

Since the 2012 revision, the guideline value has seen several changes. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2024 revision has maintained this value, showing a 0% change from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for this street. Therefore, the only revisions with figures are from 2012, 2017, 2023, and the current 2024 revision, which all reflect the guideline value of Rs 400 per sq.ft.

Guideline values in Kalvai

In Kalvai, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Rithika Enclave Phase - II below this median.

• Rithika Enclave: Rs 400 per sq.ft (2024)
• Ramakrishna Avenue: Rs 1,800 per sq.ft (2024)
• Sanjay Nagar: Rs 1,000 per sq.ft (2024)
• Skandhaguru Avenue: Rs 3,000 per sq.ft (2024)
• Sk Avenue: Rs 701 per sq.ft (2024)
• S.K Avenue Phase II: Rs 701 per sq.ft (2024)

Stamp duty and registration fee for property in Rithika Enclave Phase - II

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rithika Enclave Phase - II?

The Sub Registrar Office that covers Rithika Enclave Phase - II is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kalvai, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees during the transfer of property ownership.

When a property is sold, the registration process requires that the sale price or the guideline value, whichever is higher, is used to assess the applicable duties. This ensures that all transactions are conducted fairly and transparently in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Rithika Enclave Phase - II?

The current guideline value of Rithika Enclave Phase - II is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since the 2023 revision. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012, showing a significant increase from 2017 to 2023.

What is the median guideline value in Kalvai?

The median guideline value in Kalvai is Rs 1,000 per sq.ft. Rithika Enclave Phase - II's guideline value is below this median.

What fees are associated with buying property in Rithika Enclave Phase - II?

When buying property in Rithika Enclave Phase - II, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rithika Enclave Phase - II located?

The Thiruporur Sub Registrar Office, which covers Rithika Enclave Phase - II, is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.