Guideline Value

Corporate

Guideline Value for Ravi Colony 1st Street

₹4400/sq.ft.

The guideline value for Ravi Colony 1st Street in Parangimalai village (Chennai South Joint Ii SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Parangimalai

Village

Chennai South Joint II

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹474 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹357 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ravi Colony 1st Street

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Ravi Colony 1st Street guideline value

The current guideline value of Ravi Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village under the Chennai South Joint II SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Ravi Colony 1st Street has changed

Over the years, the guideline value of Ravi Colony 1st Street has seen significant changes. The register shows that in 2002, the guideline value was Rs 357 per sq.ft. This value increased to Rs 474 per sq.ft in 2003, marking a change of +33%. The value further rose to Rs 1,100 per sq.ft in 2007, reflecting an increase of +132%. In 2012, the value was Rs 4,000 per sq.ft, which was a substantial increase of +264% from 2007. However, it dropped to Rs 2,680 per sq.ft in 2017, showing a decrease of -33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in 2024, with a change of +10% from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 is a significant increase of +1132%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Ravi Colony 1st Street above this median with its value of Rs 4,400 per sq.ft.

Stamp duty and registration fee for property in Ravi Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ravi Colony 1st Street?

The Sub Registrar Office that covers Ravi Colony 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value will be compared with the actual sale price. The higher of the two values will be used to calculate the stamp duty and registration fees, ensuring compliance with the legal requirements of property transactions.

Frequently asked questions

What is the current guideline value of Ravi Colony 1st Street?

The current guideline value of Ravi Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 357 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1132% over this period.

What is the land classification for Ravi Colony 1st Street?

Ravi Colony 1st Street is classified under Residential Class I Type - II land classification.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Ravi Colony 1st Street?

The Sub Registrar Office for Ravi Colony 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.