Guideline Value

Corporate

Guideline Value for Ravi Colony 2nd Street

₹4400/sq.ft.

The guideline value for Ravi Colony 2nd 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 2nd Street

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Ravi Colony 2nd Street guideline value

The current guideline value of Ravi Colony 2nd 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Ravi Colony 2nd Street has changed

The guideline value for Ravi Colony 2nd Street has seen several revisions over the years. Starting from Rs 357 per sq.ft in 2002, it increased to Rs 474 per sq.ft in 2003, marking a 33% rise. The value then jumped significantly to Rs 1,100 per sq.ft in 2007, which was a 132% increase. By 2012, the value was Rs 4,000 per sq.ft, reflecting a 264% rise from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1132%. There are no figures available for any revisions prior to 2002 or between the listed years for this street.

Guideline values in Parangimalai

In Parangimalai village, 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 value for these streets is Rs 3,850 per sq.ft, placing Ravi Colony 2nd Street's 2024 guideline value above this median.

Stamp duty and registration fee for property in Ravi Colony 2nd Street

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

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

Which Sub Registrar Office covers Ravi Colony 2nd Street?

The Sub Registrar Office covering Ravi Colony 2nd 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. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for anyone looking to engage in property transactions in the area. It ensures that all parties are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ravi Colony 2nd Street?

The current guideline value of Ravi Colony 2nd 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 from Rs 357 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various increases and one decrease along the way. Notable changes include a 264% increase from 2007 to 2012 and a 10% increase from 2023 to 2024.

What is the median guideline value in Parangimalai?

The median guideline value for the 233 streets in Parangimalai is Rs 3,850 per sq.ft, with Ravi Colony 2nd Street's value above this median.

What are the stamp duty and registration fees for property in Ravi Colony 2nd Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the higher of the guideline value and the sale price.

Where can I find the Sub Registrar Office for Ravi Colony 2nd Street?

The Sub Registrar Office for Ravi Colony 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details online.