Guideline Value for RUBI AVENUE

Rubi Avenue guideline value

The current guideline value of Rubi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vallancheri village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rubi Avenue has changed

The guideline value for Rubi Avenue has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,000 per sq.ft. It then decreased to Rs 670 per sq.ft in 2017. The value increased significantly to Rs 1,000 per sq.ft in 2023, and further increased by 10% to reach Rs 1,100 per sq.ft in the 2024 revision.

Between the revisions, the changes were notable. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figure for Rubi Avenue for the years 2002, 2003, and 2007.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Rubi Avenue's 2024 figure above that median.

• Ruthra Avenue (Tai): Rs 880 per sq.ft (2024)
• Samundeeswari Naga Potheri (Ward-20): Rs 1,980 per sq.ft (2024)
• Ramani Thottam (Ward-20): Rs 880 per sq.ft (2024)
• Rajivgandhi Street (Ward-21): Rs 660 per sq.ft (2024)
• Rajeswari Nagar Main Road (Ward -1): Rs 880 per sq.ft (2024)
• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rubi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rubi Avenue?

The Sub Registrar Office that covers Rubi Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a benchmark for property registration in Vallancheri. When a property is bought or sold, the guideline value determines the minimum amount on which stamp duty and registration fees are calculated.

It is essential to be aware of the guideline value when engaging in property transactions, as this value affects the overall cost of registration. Buyers and sellers must ensure that the sale price meets or exceeds the guideline value to comply with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Rubi Avenue?

The current guideline value of Rubi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then increased to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024.

What is the land classification for Rubi Avenue?

Rubi Avenue is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Rubi Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, with a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Rubi Avenue located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.