Guideline Value for Rithika Garden Phase -VI

Rithika Garden Phase -VI guideline value

The current guideline value of Rithika Garden Phase -VI is Rs 1,000 per sq.ft. This property is located in Kavanur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - IV.

How the guideline value of Rithika Garden Phase -VI has changed

The guideline value for Rithika Garden Phase -VI has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 1,000 per sq.ft, consistent with the 2023 revision. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft, indicating a significant increase of 49% from 2017 to 2023 and maintaining that same percentage increase to the current value in 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only available revisions are from 2017, 2023, and 2024, reflecting the changes outlined above.

Guideline values in Kavanur

Kavanur has a total of 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, which means the guideline value for Rithika Garden Phase -VI is above this median.

• Rithika Garden Phase -V: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase -VII: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase - II: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase I: Rs 1,000 per sq.ft (2024)
• Rithika Avenue Extension -III: Rs 800 per sq.ft (2024)
• Rithika Avenue Extension -II: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Rithika Garden Phase -VI

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rithika Garden Phase -VI?

The Sub Registrar Office that covers Rithika Garden Phase -VI is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is registered at a value that reflects the current market standards, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Rithika Garden Phase -VI?

The current guideline value of Rithika Garden Phase -VI is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft for both the 2023 and 2024 revisions, while it was Rs 670 per sq.ft in 2017, marking a 49% increase from 2017 to 2024.

What is the land classification for Rithika Garden Phase -VI?

Rithika Garden Phase -VI is classified as Residential Special Type - IV, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Rithika Garden Phase -VI is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kavanur?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 at a rate of 7%.