Guideline Value for Revathi Nagar

Revathi Nagar guideline value

The current guideline value of Revathi Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Revathi Nagar has changed

The guideline value for Revathi Nagar has seen several revisions over the years. Starting from Rs 18 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 1,011%. In 2012, the value remained at Rs 400 per sq.ft, but then it dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for Revathi Nagar in the 2002 revision. Overall, the guideline value has increased by 2,344% from 2003 to 2024.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO, with guideline values ranging from Rs 365 to Rs 1,792 per sq.ft. The median guideline value for these streets is Rs 440 per sq.ft, which is equal to the 2024 figure for Revathi Nagar.

• R.C. Blooming Garden: Rs 1,200 per sq.ft (2024)
• Sabarish Garden: Rs 440 per sq.ft (2024)
• Sai Avenue: Rs 747 per sq.ft (2024)
• Ramdass Nagar: Rs 440 per sq.ft (2024)
• Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sangeetha Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Revathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. 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 more information.

Which Sub Registrar Office covers Revathi Nagar?

The Sub Registrar Office that covers Revathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value may influence the overall transaction costs.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions. It is essential for both parties to verify the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Revathi Nagar?

The current guideline value of Revathi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 18 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, marking a total increase of 2,344% over this period.

What is the land classification of Revathi Nagar?

Revathi Nagar falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for a property in Revathi Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Revathi Nagar?

The Redhills Sub Registrar Office handles property registrations for Revathi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.