Guideline Value for Rithika Garden Phase -V

Rithika Garden Phase -V guideline value

The current guideline value of Rithika Garden Phase -V is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Kavanur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - IV.

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

The guideline value for Rithika Garden Phase -V has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 670 per sq.ft. In the 2023 revision, the guideline value remained unchanged at Rs 1,000 per sq.ft. The most recent revision in 2024 also maintains this value at Rs 1,000 per sq.ft, resulting in a 49% increase from the 2017 figure.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The change from 2023 to 2024 shows no percentage increase, remaining at +0%.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, placing Rithika Garden Phase -V above that median.

• Rithika Garden Phase -VI: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase - II: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase -VII: 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 -V

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 to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rithika Garden Phase -V?

The Sub Registrar Office that covers Rithika Garden Phase -V 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 Kavanur

The guideline value is an essential factor during the registration of property transactions in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official rates set by the government.

When buying or selling property, the guideline value helps establish a fair price for the transaction, as it reflects the current market conditions as recognized by the Registration Department. It is crucial to be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%. The values remained unchanged from 2023 to 2024.

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

The land classification for Rithika Garden Phase -V is Residential Special Type - IV.

Where can I find the Sub Registrar Office for Rithika Garden Phase -V?

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

How is stamp duty calculated for properties in Rithika Garden Phase -V?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a 1,000 sq.ft plot at the guideline value of Rs 1,000 per sq.ft, the total guideline value is Rs 10,00,000, leading to a stamp duty of Rs 70,000.