Guideline Value for RITHIKA GARDEN PHASE I

Rithika Garden Phase I guideline value

The current guideline value of Rithika Garden Phase I 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 I has changed

In the 2017 revision, the guideline value was Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. The most recent 2024 revision also set the value at Rs 1,000 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%, with the current value reflecting the same rate as the previous two revisions.

Guideline values in Kavanur

Kavanur village has 109 streets under the Gooduvancheri SRO, with a 2024 guideline value range from Rs 500 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, making the 2024 figure for Rithika Garden Phase I above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. 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 Garden Phase I?

The Rithika Garden Phase I property falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 property transactions in Kavanur. It determines the minimum price at which a property can be sold or bought, ensuring that the transaction is recorded at a fair value as per the regulations.

When you buy or sell property, the guideline value is used to calculate stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline values for the area.

Frequently asked questions

What is the current guideline value of Rithika Garden Phase I?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024, reflecting a 49% increase overall from 2017 to 2024.

What is the land classification for Rithika Garden Phase I?

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

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rithika Garden Phase I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, with stamp duty at 7% amounting to Rs 70,000.