Guideline Value for RIVERVIEW COLONY 2ND MAIN ROAD YAMUNA STREET LINK SALAI

Riverview Colony 2nd Main Road Yamuna Street Link Salai guideline value

The current guideline value for Riverview Colony 2nd Main Road Yamuna Street Link Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This property 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 2nd Main Road Yamuna Street Link Salai has changed

The guideline value for Riverview Colony 2nd Main Road Yamuna Street Link Salai has seen several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and it was further raised to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, making the 2024 figure for Riverview Colony 2nd Main Road Yamuna Street Link Salai above the median.

• Riverview Colony 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony 3rd Main Cross Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony 1st Main Road - 2nd Main Road Link Salai: Rs 3,300 per sq.ft (2024)
• Riverview Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony 1st Main Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony 4th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Riverview Colony 2nd Main Road Yamuna Street Link Salai

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, bringing the total cost for these fees 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 calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Riverview Colony 2nd Main Road Yamuna Street Link Salai?

The Riverview Colony 2nd Main Road Yamuna Street Link Salai is covered by 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When a buyer approaches the registration office, they must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Riverview Colony 2nd Main Road Yamuna Street Link Salai?

The current guideline value for Riverview Colony 2nd Main Road Yamuna Street Link Salai 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a 49% increase from the previous revision.

What is the land classification for this area?

The land classification for Riverview Colony 2nd Main Road Yamuna Street Link Salai is Residential Class I Type - I.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.

Which office handles the registration for this street?

The Chennai South Joint I Sub Registrar Office handles the registration for Riverview Colony 2nd Main Road Yamuna Street Link Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.