Guideline Value for Ricky Garden

Ricky Garden guideline value

The current guideline value of Ricky Garden is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Ricky Garden has changed

The guideline value for Ricky Garden has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rebounded to Rs 2,200 per sq.ft in the 2023 revision, and further increased to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The changes between the revisions illustrate a fluctuation in the guideline value, particularly the substantial 49% increase from 2017 to 2023.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ricky Garden's 2024 figure above this median.

• Renganathan Street 1st Street: Rs 2,400 per sq.ft (2024)
• Renganathan Street 1st Lane: Rs 2,400 per sq.ft (2024)
• Renganathan Street: Rs 2,400 per sq.ft (2024)
• Renganathan Nagar: Rs 3,500 per sq.ft (2024)
• Ruby School Street: Rs 2,420 per sq.ft (2024)
• Ramasamy Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Ricky Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ricky Garden?

The Sub Registrar Office that covers Ricky Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ricky Garden?

The current guideline value of Ricky Garden is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Ricky Garden?

Ricky Garden is classified as Residential Special Type - II under the Selaiyur SRO.

What are the stamp duty and registration fees for property in Ricky Garden?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,00,000, the total fees would be Rs 2,16,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.