Guideline Value

Corporate

Guideline Value for Ritherdon Avenue

₹8800/sq.ft.

The guideline value for Ritherdon Avenue in Vepery village (Periamet SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Vepery

Village

Periamet

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

1103, Poonamallee High Road, Chennai-600 003.
044-25612486
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ritherdon Avenue

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Ritherdon Avenue guideline value

The current guideline value of Ritherdon Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Ritherdon Avenue has changed

Over the years, the guideline value for Ritherdon Avenue has seen significant changes. The 2007 revision recorded a value of Rs 1,800 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, this value dropped to Rs 5,360 per sq.ft in 2017. The 2023 revision saw a rise to Rs 8,000 per sq.ft, and the current 2024 revision has further increased it to Rs 8,800 per sq.ft. There are no figures available for the years 2002 and 2003 for this street.

The changes between these revisions are notable. From 2007 to 2012, the value increased by 344%, but then it decreased by 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 389% from 2007 to 2024.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Ritherdon Avenue's 2024 figure above this median.

Stamp duty and registration fee for property in Ritherdon Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty, charged at 7%, would be Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, these fees total Rs 7,92,000. It is important to note that 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 details.

Which Sub Registrar Office covers Ritherdon Avenue?

The Sub Registrar Office that covers Ritherdon Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vepery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the sale price. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ritherdon Avenue?

The current guideline value of Ritherdon Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 389% over the years.

What are the registration fees for property in Ritherdon Avenue?

The registration fee for property in Ritherdon Avenue is calculated at 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Ritherdon Avenue?

The Periamet Sub Registrar Office handles property registrations for Ritherdon Avenue, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value for streets in Vepery?

The median guideline value for streets in Vepery is Rs 4,800 per sq.ft, with Ritherdon Avenue's value being above this median.