Guideline Value for RUBI GARDEN

Rubi Garden guideline value

The current guideline value of Rubi Garden, located in Maiyur village, is Rs 350 per sq.ft. This value is set under the Chengleput Joint II SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Rubi Garden has changed

The guideline value for Rubi Garden has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 350 per sq.ft. This was followed by a decrease to Rs 234 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded to Rs 350 per sq.ft in the 2023 revision, and it has remained unchanged at this value in the 2024 revision, reflecting a 50% increase from the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing no overall change during this period.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft. The median value for these streets is Rs 400 per sq.ft, indicating that Rubi Garden's current value is below this median.

• Ruby Garden Phase -I: Rs 401 per sq.ft (2024)
• Ruby Garden Phase -II: Rs 401 per sq.ft (2024)
• Rmp Nagar: Rs 200 per sq.ft (2024)
• Saroja Nagar: Rs 400 per sq.ft (2024)
• Rajendran Nagar: Rs 400 per sq.ft (2024)
• Punal Residency: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Rubi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rubi Garden?

The Rubi Garden area falls under 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 Maiyur

The guideline value is a crucial factor during property transactions in Maiyur, as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must refer to the current guideline value to ensure compliance with legal requirements and to accurately calculate the associated costs.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price reflects the prevailing market conditions. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Rubi Garden?

The current guideline value of Rubi Garden is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 350 per sq.ft from 2012 to 2024, with a notable decrease to Rs 234 per sq.ft in 2017 and a subsequent increase back to Rs 350 per sq.ft in 2023.

What is the land classification for Rubi Garden?

Rubi Garden is classified as Residential Class II Type - I, which indicates its designation for residential purposes within the area.

How does the guideline value compare to other streets in Maiyur?

The guideline value for Rubi Garden is below the median value of Rs 400 per sq.ft for other streets in Maiyur, which range from Rs 200 to Rs 700 per sq.ft.

Where is the Sub Registrar Office for Rubi Garden located?

The Chengleput Joint II Sub Registrar Office, which covers Rubi Garden, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.