Guideline Value for River View Road

River View Road guideline value

The current guideline value of River View Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Kottur village under the Adayar SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of River View Road has changed

The guideline value for River View Road has undergone several revisions over the years. The 2012 revision set the value at Rs 8,000 per sq.ft, which decreased to Rs 5,360 per sq.ft in the 2017 revision. This represents a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 8,000 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for River View Road in the revisions from the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, and River View Road's 2024 figure of Rs 8,800 per sq.ft is above this median.

• Rajiv Gandhi Avenue: Rs 5,000 per sq.ft (2024)
• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 6,600 per sq.ft (2024)
• Silikan Road: Rs 5,000 per sq.ft (2024)
• Pondicherry Road: Rs 6,600 per sq.ft (2024)
• Perumal Koil Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in River View Road

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers River View Road?

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

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

The guideline value is a crucial factor when registering property transactions in Kottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of River View Road?

The current guideline value of River View Road 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 from Rs 8,000 in 2012 to Rs 5,360 in 2017, then back to Rs 8,000 in 2023, and finally to Rs 8,800 in 2024. The most significant increase occurred between 2017 and 2023, with a 49% rise.

What is the land classification for River View Road?

River View Road falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for River View Road?

The Sub Registrar Office for River View Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For instance, for a property with a guideline value of Rs 88,00,000, the total stamp duty and registration fees would amount to Rs 7,92,000.