Guideline Value for Ravi Garden 3rd Street

Ravi Garden 3rd Street guideline value

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

How the guideline value of Ravi Garden 3rd Street has changed

The guideline value for Ravi Garden 3rd Street has undergone several revisions over the years. In 2012, the value was recorded at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, and in the latest revision of 2024, it rose again to Rs 3,000 per sq.ft, marking a 36% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 36%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, placing Ravi Garden 3rd Street's 2024 figure above that median.

• Ravi Garden 2nd Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 4th Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 1st Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden Main Road: Rs 3,000 per sq.ft (2024)
• Ravi Garden: 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 3rd 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 be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. 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 Garden 3rd Street?

The Sub Registrar Office that covers Ravi Garden 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Jampuli, the guideline value is a crucial factor during the registration process. It helps determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties adhere to the legal requirements set by the Registration Department.

The guideline value serves as a benchmark for property transactions, providing a standard rate that helps in assessing the fair value of the property. This is particularly important for ensuring transparency and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ravi Garden 3rd Street?

The current guideline value of Ravi Garden 3rd 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 land classification for Ravi Garden 3rd Street?

Ravi Garden 3rd Street is classified as Residential Class I Type - II under the Madhavaram SRO.

What is the stamp duty for property in Ravi Garden 3rd Street?

The stamp duty for property in Ravi Garden 3rd Street is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000.

Which office handles registrations for Ravi Garden 3rd Street?

The Madhavaram Sub Registrar Office handles registrations for Ravi Garden 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.