Guideline Value for Ravi Garden 4th Street

Ravi Garden 4th Street guideline value

The current guideline value of Ravi Garden 4th 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 4th Street has changed

The guideline value for Ravi Garden 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest revision in 2024 raised it to Rs 3,000 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, the value increased by 49%. The jump from the 2023 revision to the 2024 revision was a significant 36%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 36%.

Guideline values in Jampuli

In Jampuli village, 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, making the 2024 guideline value of Ravi Garden 4th Street above this median.

• Ravi Garden 3rd Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden Main Road: Rs 3,000 per sq.ft (2024)
• Ravi Garden 2nd Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 1st Street: 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 4th 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, leading to a total of 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.

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

Which Sub Registrar Office covers Ravi Garden 4th Street?

The Sub Registrar Office that covers Ravi Garden 4th 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 transactions in Jampuli. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Ravi Garden 4th Street?

The current guideline value of Ravi Garden 4th 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 increased 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 for streets in Jampuli?

The median guideline value for the 118 streets in Jampuli under the Madhavaram SRO is Rs 2,450 per sq.ft.

What are the stamp duty and registration fees for properties in Ravi Garden 4th Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 2,70,000.

Where is the Madhavaram Sub Registrar Office located?

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