Guideline Value for RIVIERA GREENS

Riviera Greens guideline value

The current guideline value of Riviera Greens in Kilakadi village, under the Salavakkam SRO, is Rs 336 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Special Type - III.

How the guideline value of Riviera Greens has changed

In the 2017 revision, the guideline value was set at Rs 225 per sq.ft. This figure remained unchanged in the subsequent 2023 revision, which also recorded Rs 336 per sq.ft. The latest revision in 2024 has maintained this value at Rs 336 per sq.ft, resulting in an overall increase of 49% from 2017 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The guideline value has remained stable from 2023 to 2024, showing no change at +0%.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 433 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, placing Riviera Greens above this median.

• Rose Nagar: Rs 150 per sq.ft (2024)
• Selva Seeman Nagaram: Rs 101 per sq.ft (2024)
• Sri Krishna Nagar: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar Ph-I: Rs 336 per sq.ft (2024)
• Nila Nagar Part -1: Rs 105 per sq.ft (2024)
• Nila Nagar: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Riviera Greens

For a 1,000 sq.ft plot at the current guideline value of Rs 336 per sq.ft, the total guideline value amounts to Rs 3,36,000. The stamp duty at 7% would be Rs 23,520, and the registration fee at 2% would be Rs 6,720, bringing the total fees to Rs 30,240. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Riviera Greens?

The Riviera Greens area is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kilakadi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Riviera Greens?

The current guideline value of Riviera Greens is Rs 336 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged from 2023 to 2024 at Rs 336 per sq.ft, while it increased by 49% from Rs 225 per sq.ft in 2017 to Rs 336 per sq.ft in 2023.

What is the land classification for Riviera Greens?

Riviera Greens is classified as Mixed Special Type - III, which indicates the type of land use permitted in the area.

What are the other streets in Kilakadi with their guideline values?

Other streets in Kilakadi include Rose Nagar at Rs 150 per sq.ft, Selva Seeman Nagaram at Rs 101 per sq.ft, and Sri Krishna Nagar at Rs 250 per sq.ft, among others. The guideline values for these streets vary, with some above and some below the median value.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. This office handles the registration of properties in the Riviera Greens area.