Guideline Value for Revathy Avenue

Revathy Avenue guideline value

The current guideline value of Revathy Avenue in Siruniyam village, under the Redhills SRO, is Rs 825 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Revathy Avenue has changed

The guideline value for Revathy Avenue has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 502 per sq.ft. With the latest revision in 2024, it has increased to Rs 825 per sq.ft, marking a change of +64% from the 2017 figure. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the adjustments made in the guideline values over the years. The 2024 revision shows a notable rise, indicating a shift in the valuation of properties in this area.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 440 per sq.ft, placing Revathy Avenue's 2024 figure above this median.

• Revathi Avenue: Rs 825 per sq.ft (2024)
• Rehoboth Avenue: Rs 220 per sq.ft (2024)
• Siruniam - Angadu Road: Rs 440 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 440 per sq.ft (2024)
• Perumal Koil Street (Siruniyam Colony): Rs 330 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Revathy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty is charged at 7%, which would be Rs 57,750, and the registration fee at 2% amounts to Rs 16,500. Together, these fees total Rs 74,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Revathy Avenue?

The Sub Registrar Office that covers Revathy Avenue 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Revathy Avenue?

The current guideline value of Revathy Avenue is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Revathy Avenue was Rs 502 per sq.ft in 2017 and has increased to Rs 825 per sq.ft in 2024, marking a change of +64%.

What are the other streets in Siruniyam with their guideline values?

Other streets in Siruniyam under the Redhills SRO include Revathi Avenue at Rs 825 per sq.ft, Rehoboth Avenue at Rs 220 per sq.ft, Siruniam - Angadu Road at Rs 440 per sq.ft, and several others with varying rates.

What is the registration fee for properties in Revathy Avenue?

The registration fee for properties in Revathy Avenue is calculated based on the guideline value. For a property valued at Rs 8,25,000, the registration fee would be Rs 16,500 at a rate of 2%.

Where is the Sub Registrar Office for Revathy Avenue located?

The Sub Registrar Office for Revathy Avenue is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.