Guideline Value for RIVER BANK ST

River Bank St guideline value

The current guideline value of River Bank St in Paruthipattu village is Rs 801 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Avadi Sub Registrar Office (Avadi SRO) and is classified as Residential Class I Type - II.

How the guideline value of River Bank St has changed

The guideline value for River Bank St has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 600 per sq.ft. This increased to Rs 469 per sq.ft in 2017, marking a decrease of 22%. However, from 2017 to 2023, the value saw a significant increase to Rs 800 per sq.ft, representing a 71% rise. The latest revision in 2024 has set the guideline value at Rs 801 per sq.ft, showing no change from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for River Bank St. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,730 per sq.ft. The median guideline value for these streets is Rs 1,625 per sq.ft, which means River Bank St's 2024 figure is below that median.

• Reva: Rs 1,925 per sq.ft (2024)
• Reddypalayam Main Road: Rs 950 per sq.ft (2024)
• Rangammal Nagar: Rs 801 per sq.ft (2024)
• Sai Shanthi Garden: Rs 1,600 per sq.ft (2024)
• Sai Shanthi Garden Phase II: Rs 3,250 per sq.ft (2024)
• Ram Nagar 5th Street: Rs 1,625 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 801 per sq.ft, the total guideline value amounts to Rs 8,01,000. The stamp duty at 7% would be Rs 56,070, and the registration fee at 2% would be Rs 16,020, making the total cost for these fees Rs 72,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers River Bank St?

The Sub Registrar Office that covers River Bank St is 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 details.

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

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

When buying or selling property, the guideline value is compared to the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead. This ensures that the registration process is transparent and fair.

Frequently asked questions

What is the current guideline value of River Bank St?

The current guideline value of River Bank St is Rs 801 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 801 per sq.ft in 2024.

What is the classification of land on River Bank St?

River Bank St is classified as Residential Class I Type - II under the Avadi SRO.

What are the stamp duty and registration fees for property on River Bank St?

For a property valued at Rs 8,01,000, the stamp duty would be Rs 56,070 and the registration fee would be Rs 16,020, totaling Rs 72,090.

Where is the Sub Registrar Office for River Bank St 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.