Guideline Value for Rishab Nagar

Rishab Nagar guideline value

The current guideline value of Rishab Nagar is Rs 1,500 per sq.ft as per the 2023 revision. This area falls under Ayyencheri village and is registered with the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Rishab Nagar has changed

Over the years, the guideline value of Rishab Nagar has seen several revisions. The 2007 revision set the value at Rs 370 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 1,005 per sq.ft, marking a decline of 33%. The latest 2023 revision restored the value to Rs 1,500 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, from the 2007 revision to the current 2023 revision, the guideline value has increased by 305%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Ayyencheri

Currently, there are no specific guideline values provided for other streets in Ayyencheri. Rishab Nagar is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Rishab 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 cost for these fees 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.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rishab Nagar?

The Sub Registrar Office that covers Rishab Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayyencheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Rishab Nagar?

The current guideline value of Rishab Nagar is Rs 1,500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 370 per sq.ft to Rs 1,500 per sq.ft in 2023, marking an overall increase of 305%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 15,00,000, resulting in a stamp duty of Rs 1,05,000 and a registration fee of Rs 30,000, totaling Rs 1,35,000.

Which Sub Registrar Office covers Rishab Nagar?

The Gooduvancheri Sub Registrar Office covers Rishab Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there other streets in Ayyencheri with guideline values?

Currently, there are no specific guideline values provided for other streets in Ayyencheri. Rishab Nagar is the only street mentioned under the Gooduvancheri SRO.