Guideline Value for RUBY RHEA GARDENS Phase -II

RUBY RHEA GARDENS Phase -II guideline value

The current guideline value for RUBY RHEA GARDENS Phase -II is Rs 3,500 per sq.ft, effective from 1 July 2024. This property is located in Madambakkam village, under the Selaiyur SRO, and is classified as Mixed Type - I.

How the guideline value of RUBY RHEA GARDENS Phase -II has changed

The guideline value for RUBY RHEA GARDENS Phase -II has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 3,250 per sq.ft, and the latest 2024 revision increased it to Rs 3,500 per sq.ft, marking an 8% increase.

Prior to the 2023 revision, there were no figures available for the years mentioned. The significant change from 2023 to 2024 reflects the current valuation trends in the area, with the latest figure now standing at Rs 3,500 per sq.ft.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing RUBY RHEA GARDENS Phase -II above this median.

• Ruby Rhea Gardens: Rs 3,500 per sq.ft (2024)
• Ruby Vairam: Rs 2,700 per sq.ft (2024)
• Russel Avenue: Rs 3,800 per sq.ft (2024)
• Sabapathi Nagar: Rs 2,750 per sq.ft (2024)
• Sabapathi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Sabapathi Nagar 1st Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in RUBY RHEA GARDENS Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost for these fees to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate your fees based on the guideline value.

Which Sub Registrar Office covers RUBY RHEA GARDENS Phase -II?

The RUBY RHEA GARDENS Phase -II falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a crucial factor during property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for RUBY RHEA GARDENS Phase -II?

The current guideline value for RUBY RHEA GARDENS Phase -II is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for RUBY RHEA GARDENS Phase -II has increased from Rs 3,250 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024, marking an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values. For example, Ruby Vairam is valued at Rs 2,700 per sq.ft, while Russel Avenue is at Rs 3,800 per sq.ft in 2024.

What fees are involved when purchasing property in RUBY RHEA GARDENS Phase -II?

When purchasing property in RUBY RHEA GARDENS Phase -II, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for RUBY RHEA GARDENS Phase -II?

The Selaiyur Sub Registrar Office, which covers RUBY RHEA GARDENS Phase -II, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.