Guideline Value for River Side Road

River Side Road guideline value

The current guideline value of River Side Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This road is located in Adayar village, under the Adayar SRO, and is classified as Residential Special Type - I.

How the guideline value of River Side Road has changed

The guideline value for River Side Road has seen several revisions over the years. In the 2007 revision, the value was set at Rs 4,500 per sq.ft. This figure increased significantly to Rs 9,000 per sq.ft in the 2012 revision, marking a 100% increase. However, in the 2017 revision, the value decreased to Rs 6,030 per sq.ft, reflecting a decline of 33%. The 2023 revision saw a substantial rise to Rs 9,000 per sq.ft, and the most recent 2024 revision further increased it to Rs 9,900 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 6,100 per sq.ft, indicating that River Side Road's 2024 figure is above this median.

• Ranjith Road: Rs 11,000 per sq.ft (2024)
• Ranjith Lane: Rs 6,600 per sq.ft (2024)
• Ranjith Cross Street [Maruthai Avenue]: Rs 6,600 per sq.ft (2024)
• Sanjeevarayan Pettai: Rs 10,500 per sq.ft (2024)
• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Railway Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in River Side Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees to Rs 8,91,000. 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 detailed computations.

Which Sub Registrar Office covers River Side Road?

The Sub Registrar Office that covers River Side Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Adayar. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amount is paid during the transaction process.

Frequently asked questions

What is the current guideline value of River Side Road?

The current guideline value of River Side Road is Rs 9,900 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 4,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification for River Side Road?

River Side Road is classified as Residential Special Type - I, indicating its specific use and zoning regulations within the area.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in River Side Road is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for River Side Road?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, and it handles registrations for properties in River Side Road.