Guideline Value for Ravi Garden 2nd Street

Ravi Garden 2nd Street guideline value

The current guideline value of Ravi Garden 2nd Street is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO and is classified as Residential Class I Type - II.

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

The guideline value for Ravi Garden 2nd Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,200 per sq.ft. This figure remained the same in the subsequent revision in 2017, when it dropped to Rs 1,474 per sq.ft. In 2023, the value increased to Rs 2,200 per sq.ft, followed by a significant rise to Rs 3,000 per sq.ft in the 2024 revision, marking a 36% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is +36%. The revisions without figures for this street occurred in 2002, 2003, and 2007, where the register has no figure available.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Ravi Garden 2nd Street is above this median.

• Ravi Garden 1st Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 3rd Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 4th Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden: Rs 3,000 per sq.ft (2024)
• Ravi Garden Main Road: Rs 3,000 per sq.ft (2024)
• Riswan Road / Madhavaram Milk Colony / Road: Rs 2,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000. Together, the total cost would be Rs 2,70,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ravi Garden 2nd Street?

The Sub Registrar Office that covers Ravi Garden 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Ravi Garden 2nd Street is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the median guideline value in Jampuli?

The median guideline value in Jampuli is Rs 2,450 per sq.ft, while Ravi Garden 2nd Street's value is above this median.

What are the registration fees for property in Ravi Garden 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ravi Garden 2nd Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.