Guideline Value for RIVERVIEW COLONY DEESTA STREET

Riverview Colony Deesta Street guideline value

The current guideline value of Riverview Colony Deesta Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Riverview Colony Deesta Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure saw a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly in the 2023 revision to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which represents a 10% rise from the previous year. The overall change from 2012 to 2024 is an increase of 10%.

The register has no figure for this street in the years 2002, 2003, and 2007. Therefore, the only revisions available for this street are from 2012, 2017, 2023, and 2024.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for the area is Rs 2,530 per sq.ft, placing Riverview Colony Deesta Street's 2024 figure above this median.

• Riverview Colony 4th Main Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony Ganga Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony Kothavari Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony 3rd Main Cross Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Krishna Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Riverview Colony Deesta Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to 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 information.

Which Sub Registrar Office covers Riverview Colony Deesta Street?

The Sub Registrar Office that covers Riverview Colony Deesta Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process of property transactions in Manapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to understand that the actual sale price must meet or exceed the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Riverview Colony Deesta Street?

The current guideline value of Riverview Colony Deesta Street 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 is the land classification for Riverview Colony Deesta Street?

The land classification for Riverview Colony Deesta Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Riverview Colony Deesta Street?

The Sub Registrar Office for Riverview Colony Deesta Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Riverview Colony Deesta Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.