Guideline Value

Corporate

Guideline Value for Ravi Colony 5th Street

₹4400/sq.ft.

The guideline value for Ravi Colony 5th 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 5th Street

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Ravi Colony 5th Street guideline value

The current guideline value of Ravi Colony 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Ravi Colony 5th Street has changed

The guideline value for Ravi Colony 5th Street has undergone several revisions over the years. In 2002, the value was Rs 357 per sq.ft, which increased to Rs 474 per sq.ft in 2003, marking a 33% rise. The value saw significant growth, reaching Rs 1,100 per sq.ft in 2007, a 132% increase from the previous revision. By 2012, the guideline value adjusted to Rs 4,000 per sq.ft, reflecting a decrease of 33% from 2007. The value remained the same in 2023 at Rs 4,000 per sq.ft, before rising to Rs 4,400 per sq.ft in 2024, a 10% increase.

From 2012 to 2017, the guideline value was not applicable for this street, as the register has no figure for this street in it. The value increased by 49% from Rs 2,680 per sq.ft in 2017 to Rs 4,000 per sq.ft in 2023. Overall, the guideline value has increased by 1132% from 2002 to 2024.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, placing Ravi Colony 5th Street above this median.

Stamp duty and registration fee for property in Ravi Colony 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ravi Colony 5th Street?

The Sub Registrar Office that covers Ravi Colony 5th 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 information.

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

The guideline value is a crucial factor during property registration in Parangimalai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value of Ravi Colony 5th Street?

The current guideline value of Ravi Colony 5th 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 increased significantly from Rs 357 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1132% over this period.

What is the stamp duty on property in Ravi Colony 5th Street?

The stamp duty on property in Ravi Colony 5th Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 3,08,000.

Where is the Sub Registrar Office for Ravi Colony 5th Street located?

The Sub Registrar Office for Ravi Colony 5th Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Ravi Colony 5th Street?

The land classification for Ravi Colony 5th Street is Residential Class I Type - II, indicating its suitability for residential purposes.