Guideline Value for RUBY GARDEN PHASE -I

Ruby Garden Phase -I guideline value

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

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

Over the years, the guideline value of Ruby Garden Phase -I has seen several revisions. 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 marked a significant increase to Rs 268 per sq.ft, reflecting a 33% decrease from the 2012 figure. The most recent revision in 2024 increased the value slightly to Rs 401 per sq.ft, showing no change from the previous year.

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 stable with a 0% change.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry 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, placing Ruby Garden Phase -I above this median.

• Ruby Garden Phase -II: 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 -I

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, while the registration fee at 2% would be Rs 8,020, making the total charges 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ruby Garden Phase -I?

The Ruby Garden Phase -I property falls under the jurisdiction of 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 critical factor in the registration process when buying or selling property in Maiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the registration department.

When a property transaction occurs, the guideline value helps in establishing a transparent and standardized process for both buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ruby Garden Phase -I?

The current guideline value of Ruby Garden Phase -I 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 several revisions, with the most recent being Rs 401 per sq.ft in 2024, which is unchanged from 2023. There was a significant increase of 49% from 2017 to 2023.

What is the registration office for Ruby Garden Phase -I?

The registration office for Ruby Garden Phase -I is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Ruby Garden Phase -I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 401 per sq.ft would incur a total guideline value of Rs 4,01,000.

What are the other streets in Maiyur with guideline values?

Other streets in Maiyur under the Chengleput Joint II SRO include Ruby Garden Phase -II, Rubi Garden, Rmp Nagar, Saroja Nagar, Rajendran Nagar, and Punal Residency, with values ranging from Rs 200 to Rs 401 per sq.ft.