Guideline Value for Rasi Garden Extension -1

Rasi Garden Extension -1 guideline value

The current guideline value of Rasi Garden Extension -1 is Rs 111 per sq.ft, effective from 1 July 2024. This property is located in Mangavaram village, under the Gummidipoondi SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rasi Garden Extension -1 has changed

The guideline value for Rasi Garden Extension -1 has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 74 per sq.ft. In the subsequent revision in 2023, the value increased to Rs 111 per sq.ft, marking a 50% increase from the 2017 figure. The 2024 revision has maintained the guideline value at Rs 111 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 50%.

Guideline values in Mangavaram

Currently, there are no specific village figures available for Mangavaram. Rasi Garden Extension -1 is part of the properties listed under the Gummidipoondi SRO. Unfortunately, there are no other streets in Mangavaram for which guideline values have been provided.

Stamp duty and registration fee for property in Rasi Garden Extension -1

For a 1,000 sq.ft plot at the current rate of Rs 111 per sq.ft, the guideline value amounts to Rs 1,11,000. The stamp duty is charged at 7%, which totals Rs 7,770, and the registration fee is charged at 2%, amounting to Rs 2,220. Together, the total cost for stamp duty and registration fee would be Rs 9,990. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rasi Garden Extension -1?

The Rasi Garden Extension -1 is covered by the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find more details by visiting find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mangavaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on the property's official value.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rasi Garden Extension -1?

The current guideline value of Rasi Garden Extension -1 is Rs 111 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 74 per sq.ft in 2017 to Rs 111 per sq.ft in both 2023 and 2024, marking a 50% increase overall from 2017 to 2024.

What is the land classification of Rasi Garden Extension -1?

Rasi Garden Extension -1 is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where is the Gummidipoondi Sub Registrar Office located?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 9,990 in fees.