Guideline Value for Ravi Garden

Ravi Garden guideline value

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

How the guideline value of Ravi Garden has changed

The guideline value for Ravi Garden has seen significant changes over the years. In the 2017 revision, the value was Rs 1,474 per sq.ft. This increased to Rs 2,200 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 3,000 per sq.ft, which is a 36% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 104%. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Jampuli

In Jampuli village, 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. The median value for these streets is Rs 2,450 per sq.ft, placing the guideline value of Ravi Garden above this median.

• Ravi Garden 1st Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 2nd 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 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

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 for these charges would be Rs 2,70,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ravi Garden?

The Ravi Garden area is covered by 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 during the registration process when buying or selling property in Jampuli. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Ravi Garden?

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

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,474 per sq.ft to Rs 3,000 per sq.ft in 2024, marking a total rise of 104% over the seven years.

What is the registration office for Ravi Garden?

The registration office covering Ravi Garden is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Ravi Garden?

Stamp duty in Ravi Garden is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Are there other streets with the same guideline value in Jampuli?

Yes, several other streets in Jampuli also have a guideline value of Rs 3,000 per sq.ft in 2024, including Ravi Garden 1st Street, 2nd Street, 3rd Street, 4th Street, and Main Road.