Guideline Value for RUBY SCHOOL STREET

Ruby School Street guideline value

The current guideline value of Ruby School Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class V Type - V.

How the guideline value of Ruby School Street has changed

The guideline value for Ruby School Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,474 per sq.ft, which increased significantly to Rs 2,205 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value further to Rs 2,420 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value rose by 50%. Overall, from 2017 to 2024, there has been a substantial increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ruby School Street's 2024 figure above this median.

• Ricky Garden: Rs 2,400 per sq.ft (2024)
• Renganathan Street 1st Street: Rs 2,400 per sq.ft (2024)
• Renganathan Street 1st Lane: Rs 2,400 per sq.ft (2024)
• Renganathan Street: Rs 2,400 per sq.ft (2024)
• Renganathan Nagar: Rs 3,500 per sq.ft (2024)
• Sakthi Garden: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ruby School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost for these fees Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ruby School Street?

The Sub Registrar Office that covers Ruby School Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the registration process.

When buying or selling property, it is essential to ensure that the sale price meets or exceeds the guideline value, as the registration office will charge fees based on the higher of the two. This ensures that all transactions are in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ruby School Street?

The current guideline value of Ruby School Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, rising from Rs 1,474 per sq.ft to Rs 2,420 per sq.ft in 2024.

What is the median guideline value for streets in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, with Ruby School Street's 2024 figure of Rs 2,420 per sq.ft being above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs total fees of Rs 2,17,800.

Where can I find the Selaiyur Sub Registrar Office?

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