Guideline Value for Revathi Nagar

Revathi Nagar guideline value

The current guideline value of Revathi Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. Revathi Nagar is located in Puthagaram village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Revathi Nagar has changed

The guideline value of Revathi Nagar has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 1,800 per sq.ft. This was followed by a significant decrease in 2017, where the value dropped to Rs 1,206 per sq.ft. However, from 2017 to 2023, there was a substantial increase of 49%, bringing the value up to Rs 1,800 per sq.ft. The latest revision in 2024 has seen the guideline value rise to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It should be noted that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value among these streets is Rs 1,900 per sq.ft, which is equal to the 2024 figure for Revathi Nagar.

• Ranganathar Nagar: Rs 1,900 per sq.ft (2024)
• Sabapathi Nagar: Rs 1,600 per sq.ft (2024)
• Sai Nagar: Rs 1,600 per sq.ft (2024)
• Ramalinga Nagar extention: Rs 1,600 per sq.ft (2024)
• Ramalinga Nagar: Rs 1,900 per sq.ft (2024)
• Raj Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Revathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 Revathi Nagar?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Puthagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value as it affects the overall cost of the transaction. The stamp duty and registration fees are calculated based on this value, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Revathi Nagar?

The current guideline value of Revathi Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Revathi Nagar?

Revathi Nagar is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Revathi Nagar?

The Sub Registrar Office for Revathi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,71,000.