Guideline Value for RUBY GARDEN PHASE -II

Ruby Garden Phase -II guideline value

The current guideline value for Ruby Garden Phase -II in Maiyur village is Rs 401 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - III.

How the guideline value of Ruby Garden Phase -II has changed

The guideline value for Ruby Garden Phase -II has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, where it was also Rs 400 per sq.ft. The 2017 revision saw a decrease to Rs 268 per sq.ft, marking a significant drop of 33% from the 2012 figure. The most recent 2024 revision has increased the value to Rs 401 per sq.ft, indicating no change from the previous year, 2023.

Between the revisions, from 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 401 per sq.ft.

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 is Rs 400 per sq.ft, and Ruby Garden Phase -II's value is above that median.

• Ruby Garden Phase -I: Rs 401 per sq.ft (2024)
• Rubi Garden: Rs 350 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 Ruby Garden Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total cost to Rs 36,090. 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 Ruby Garden Phase -II?

The Ruby Garden Phase -II is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 an essential factor when registering property transactions in Maiyur. 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 guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value for Ruby Garden Phase -II?

The current guideline value for Ruby Garden Phase -II is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 401 per sq.ft in 2024, which is unchanged from 2023. The value was Rs 400 per sq.ft in 2012 and Rs 268 per sq.ft in 2017.

What is the land classification for Ruby Garden Phase -II?

Ruby Garden Phase -II is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Ruby Garden Phase -II?

For a 1,000 sq.ft property at the guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty would be Rs 28,070, and the registration fee would be Rs 8,020, totaling Rs 36,090.

Where is the Chengleput Joint II Sub Registrar Office located?

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