Guideline Value for RIVER BANK ST

River Bank St guideline value

The current guideline value of River Bank St in Paleripattu village is Rs 990 per sq.ft, effective from the 1st of July 2024. This property falls under the Residential Class II Type - I land classification and is registered with the Avadi Sub Registrar Office (SRO).

How the guideline value of River Bank St has changed

The guideline value for River Bank St has undergone several revisions over the years. In 2012, the guideline value was Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in 2017. However, from 2017 to 2023, it saw a significant increase of 49%, bringing it to Rs 900 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for River Bank St for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft, with the median being Rs 990 per sq.ft. River Bank St's 2024 guideline value is equal to this median.

• R.C.Natesan Nagar: Rs 1,320 per sq.ft (2024)
• Sabthagiri St: Rs 990 per sq.ft (2024)
• Ramasamy St: Rs 990 per sq.ft (2024)
• Ramaraj Nagar: Rs 990 per sq.ft (2024)
• Sapthagiri Nagar & Street: Rs 990 per sq.ft (2024)
• Sargunam St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in River Bank St

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty charged at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers River Bank St?

The River Bank St property is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Paleripattu. It serves as a benchmark for calculating the stamp duty and registration fees that are required to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the fair value of the property. This helps maintain transparency in property dealings and ensures that the correct amount of duty is collected by the authorities.

Frequently asked questions

What is the current guideline value of River Bank St?

The current guideline value of River Bank St is Rs 990 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for River Bank St?

River Bank St falls under the Residential Class II Type - I land classification.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000.