Guideline Value for RIVERVIEW COLONY LINK ROAD

Riverview Colony Link Road guideline value

The current guideline value of Riverview Colony Link Road 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 Link Road has changed

The guideline value for Riverview Colony Link Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that Riverview Colony Link Road's 2024 figure is above that median.

• Riverview Colony Krishna Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Narmatha Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Kothavari Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Park Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony Ganga Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Yamuna Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Riverview Colony Link Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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 detailed calculations.

Which Sub Registrar Office covers Riverview Colony Link Road?

The Riverview Colony Link Road 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 property transactions in Manapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated 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 of Riverview Colony Link Road?

The current guideline value of Riverview Colony Link Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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. From 2017 to 2023, it increased by 49% from Rs 2,010 per sq.ft to Rs 3,000 per sq.ft.

What is the land classification for Riverview Colony Link Road?

The land classification for Riverview Colony Link Road is Residential Class I Type - I.

What are the other streets in Manapakkam with the same guideline value?

Other streets in Manapakkam with the same guideline value of Rs 3,300 per sq.ft include Krishna Street, Narmatha Street, Kothavari Street, Park Road, Ganga Street, and Yamuna Street.

Where can I find the Sub Registrar Office for Riverview Colony Link Road?

The Sub Registrar Office covering Riverview Colony Link Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.