Guideline Value for RIVER VIEW RESIDENCY

River View Residency guideline value

The current guideline value of River View Residency 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 Residency has changed

The guideline value for River View Residency has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 3,000 per sq.ft. This figure then dropped to Rs 2,010 per sq.ft in the 2017 revision, marking a decrease of 33%. However, by the 2023 revision, the value increased to Rs 3,000 per sq.ft, and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2017 revision did not have a figure for this street in the register, and similarly, there are no figures for the years 2002, 2003, and 2007.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for River View Residency is above this median.

• River View Housing Co-Op Society: 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 Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees 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 further calculations.

Which Sub Registrar Office covers River View Residency?

The River View Residency 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 more details.

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

The guideline value plays a crucial role during property registration in Karapakkam. It is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the property transaction process.

When buying or selling property, it is essential to be aware of the current guideline value as it directly affects the financial obligations you will face at the time of registration. This ensures that both parties are informed and prepared for the costs involved.

Frequently asked questions

What is the current guideline value for River View Residency?

The current guideline value for River View Residency 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 back 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 River View Residency?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, making the total fees Rs 2,97,000.

Which office handles property registrations for River View Residency?

The Neelankarai Sub Registrar Office handles property registrations for River View Residency, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for River View Residency?

River View Residency is classified as Residential Class I Type - II, indicating its designated use for residential purposes.