Guideline Value for RIVER VIEW HOUSING CO-OP SOCIETY

River View Housing Co-Op Society guideline value

The current guideline value of River View Housing Co-Op Society is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of River View Housing Co-Op Society has changed

The guideline value for River View Housing Co-Op Society has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 3,000 per sq.ft. It then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and finally, it rose to Rs 3,300 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, indicating that River View Housing Co-Op Society's 2024 figure is above this median.

• River View Residency: Rs 3,300 per sq.ft (2024)
• River Side Infrastructure Pvt Ltd.: Rs 3,300 per sq.ft (2024)
• Saba Ganesh Garden: Rs 3,000 per sq.ft (2024)
• Rangathan Garden: Rs 1,100 per sq.ft (2024)
• Rangasamy Street: Rs 1,100 per sq.ft (2024)
• Sadagopan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in River View Housing Co-Op Society

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers River View Housing Co-Op Society?

The River View Housing Co-Op Society falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of River View Housing Co-Op Society?

The current guideline value of River View Housing Co-Op Society is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is crucial in determining the stamp duty and registration fees when buying or selling property. It ensures that the appropriate revenue is collected by the government based on the property's value.