Guideline Value for RIVERVIEW ENCLAVE

Riverview Enclave guideline value

The current guideline value of Riverview Enclave is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Riverview Enclave has changed

Over the years, the guideline value of Riverview Enclave has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the Rs 2,010 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the current 2024 revision has raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 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 guideline value for these streets is Rs 2,530 per sq.ft, indicating that Riverview Enclave's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Riverview Enclave

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 to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Riverview Enclave?

The Sub Registrar Office that covers Riverview Enclave 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 more details.

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

The guideline value is a critical factor during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Riverview Enclave?

The current guideline value of Riverview Enclave 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant changes over the years.

What is the median guideline value in Manapakkam?

The median guideline value for streets in Manapakkam is Rs 2,530 per sq.ft. Riverview Enclave's guideline value is above this median.

What are the stamp duty rates applicable in Riverview Enclave?

The stamp duty rate for property transactions in Riverview Enclave is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Riverview Enclave?

The Sub Registrar Office covering Riverview Enclave is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more details online.