Guideline Value for Ravindran Nagar

Ravindran Nagar guideline value

The current guideline value of Ravindran Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Ravindran Nagar has changed

The guideline value for Ravindran Nagar has undergone several revisions over the years. Starting from Rs 64 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, marking a 56% rise. The value then saw a significant increase to Rs 200 per sq.ft in 2007, which was a 100% jump. Following this, the value surged to Rs 1,400 per sq.ft in 2012, reflecting a 600% increase. However, it dropped to Rs 938 per sq.ft in 2017, which was a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, representing a 60% increase from the 2017 figure.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2244%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with a 2024 guideline value range from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Ravindran Nagar's 2024 figure below that median.

• Rani Anna Street: Rs 2,400 per sq.ft (2024)
• Royal Residency: Rs 1,900 per sq.ft (2024)
• Rukumani Street: Rs 1,600 per sq.ft (2024)
• Ramayanam Street (Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Saibaba Street(srinagar colony): Rs 2,700 per sq.ft (2024)
• Ramanjuam Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ravindran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ravindran Nagar?

The Sub Registrar Office that covers Ravindran Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that must be paid during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ravindran Nagar?

The current guideline value of Ravindran Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 64 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 2244% over the years.

What are the stamp duty and registration fees for properties in Ravindran Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 15,00,000, the total fees would amount to Rs 1,35,000.

Which Sub Registrar Office covers Ravindran Nagar?

The Ambattur Sub Registrar Office covers Ravindran Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Ravindran Nagar?

Ravindran Nagar is classified as Residential Class III Type - II, indicating its designation for residential use.