Guideline Value for RITHIKA GARDEN PHASE - II

Rithika Garden Phase - II guideline value

The current guideline value of Rithika Garden Phase - II is Rs 1,000 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 - IV.

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

Over the years, the guideline value for Rithika Garden Phase - II has seen significant changes. The 2017 revision set the value at Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. The current 2024 revision has maintained this value at Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions impacting the guideline value are from 2017, 2023, and 2024, with no change between 2023 and 2024.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,239 per sq.ft, with a median value of Rs 800 per sq.ft. Rithika Garden Phase - II's guideline value is above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rithika Garden Phase - II?

The Rithika Garden Phase - II is covered by the Gooduvancheri Sub Registrar Office, 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 is a crucial factor when registering a property in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which can impact the overall cost of the transaction. It is essential for both parties to understand the implications of the guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

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

The current guideline value of Rithika Garden Phase - II is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024. There were no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification of Rithika Garden Phase - II?

Rithika Garden Phase - II is classified as Residential Special Type - IV, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rithika Garden Phase - II?

The Gooduvancheri Sub Registrar Office covers Rithika Garden Phase - II, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kavanur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.