Guideline Value for Ravi Colony Cross Street S.No.420

Ravi Colony Cross Street S.No.420 guideline value

The current guideline value for Ravi Colony Cross Street S.No.420 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 Cross Street S.No.420 has changed

The guideline value for Ravi Colony Cross Street S.No.420 has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 379 per sq.ft. This increased to Rs 474 per sq.ft in 2003, marking a 25% rise. The value then jumped significantly to Rs 1,100 per sq.ft in 2007, reflecting a 132% increase. By 2012, the value reached Rs 4,000 per sq.ft, which was a substantial 264% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 2,680 per sq.ft, a drop of 33% from 2012. The value rose again to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1061%. There are no figures available for any other revisions for this street.

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, and the 2024 figure for Ravi Colony Cross Street S.No.420 is above this median.

• Ravi Colony Lay Out: Rs 4,400 per sq.ft (2024)
• Ravi Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Ravi Colony 54th Main Road: Rs 4,400 per sq.ft (2024)
• Ravi Colony 51st Main Road: Rs 4,400 per sq.ft (2024)
• Ravi Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Ravi Colony 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ravi Colony Cross Street S.No.420

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 or the sale price.

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

Which Sub Registrar Office covers Ravi Colony Cross Street S.No.420?

The Sub Registrar Office that covers Ravi Colony Cross Street S.No.420 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 an essential factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling a property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Ravi Colony Cross Street S.No.420?

The current guideline value for Ravi Colony Cross Street S.No.420 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 379 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a significant overall increase of 1061% over this period.

What are the other streets in Parangimalai with the same guideline value?

Other streets in Parangimalai that share the same guideline value of Rs 4,400 per sq.ft include Ravi Colony Lay Out, Ravi Colony 5th Street, Ravi Colony 54th Main Road, Ravi Colony 51st Main Road, Ravi Colony 4th Street, and Ravi Colony 3rd Street.

Where can I find the Sub Registrar Office for Ravi Colony Cross Street S.No.420?

The Sub Registrar Office for Ravi Colony Cross Street S.No.420 is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the stamp duty for property in Ravi Colony Cross Street S.No.420?

The stamp duty for property in Ravi Colony Cross Street S.No.420 is calculated at 7% of the guideline value. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,08,000.