Guideline Value

Corporate

Guideline Value for Ravi Colony Lay Out

₹4400/sq.ft.

The guideline value for Ravi Colony Lay Out 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 ₹800 /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 Lay Out

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Ravi Colony Lay Out guideline value

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

How the guideline value of Ravi Colony Lay Out has changed

The guideline value for Ravi Colony Lay Out has seen significant changes over the years. In 2002, the guideline value was Rs 357 per sq.ft, which increased to Rs 474 per sq.ft in 2003. The value then rose to Rs 800 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2024, the overall increase was 1132%. The most significant jump occurred between 2007 and 2012, with an increase of 400%. In contrast, there was a decrease of 33% from 2012 to 2017. The increase from 2023 to 2024 was 10%, while the rise from 2017 to 2023 was 49%.

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, making the 2024 figure for Ravi Colony Lay Out above that median.

Stamp duty and registration fee for property in Ravi Colony Lay Out

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 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.

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

Which Sub Registrar Office covers Ravi Colony Lay Out?

The Ravi Colony Lay Out falls under the jurisdiction of 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

When buying or selling property in Parangimalai, the guideline value plays a crucial role in determining the registration costs. The guideline value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction. This ensures that both the buyer and seller are aware of the financial obligations associated with the transfer of property.

During the registration process, the guideline value is referenced to ensure compliance with local regulations. It is essential for buyers and sellers to be informed about the current guideline values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Ravi Colony Lay Out?

The current guideline value of Ravi Colony Lay Out 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, starting from Rs 357 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1132%.

What is the median guideline value for streets in Parangimalai?

The median guideline value for streets in Parangimalai is Rs 3,850 per sq.ft, with Ravi Colony Lay Out's value being above this median.

What are the stamp duty and registration fees for a property in Ravi Colony Lay Out?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value, which for a 1,000 sq.ft plot amounts to a total of Rs 3,96,000.

Which office handles registrations for Ravi Colony Lay Out?

The Chennai South Joint II Sub Registrar Office handles registrations for Ravi Colony Lay Out, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.