Guideline Value for RUBY VAIRAM

Ruby Vairam guideline value

The current guideline value of Ruby Vairam in Madambakkam village is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Mixed Special Type - II.

How the guideline value of Ruby Vairam has changed

The guideline value for Ruby Vairam has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which represents an increase from the 2023 revision where the value was Rs 2,505 per sq.ft. This change reflects an increase of 8% from the previous year.

There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street. Thus, the only available figures are from the 2023 and 2024 revisions.

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 guideline value for the village is Rs 2,400 per sq.ft, placing Ruby Vairam's 2024 figure above this median.

• RUBY RHEA GARDENS Phase -II: Rs 3,500 per sq.ft (2024)
• Ruby Rhea Gardens: Rs 3,500 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 Vairam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ruby Vairam?

The Sub Registrar Office that covers Ruby Vairam is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is an important factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold and is used for calculating stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers and sellers should ensure that the sale price is in line with the current guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ruby Vairam?

The current guideline value of Ruby Vairam is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,505 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, which is an increase of 8%.

What is the land classification of Ruby Vairam?

Ruby Vairam is classified as Mixed Special Type - II under the land classification system.

Where can I find the Selaiyur Sub Registrar Office?

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

How is the stamp duty calculated for properties in Ruby Vairam?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.