Guideline Value for Ruby Avenue

Ruby Avenue guideline value

The current guideline value of Ruby Avenue, located in Rajakilpakkam village under the Selaiyur SRO, is Rs 3,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Ruby Avenue has changed

Over the years, the guideline value of Ruby Avenue has seen several revisions. The 2012 revision set the rate at Rs 3,000 per sq.ft, which was followed by a drop to Rs 2,010 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 3,200 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ruby Avenue. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing Ruby Avenue's 2024 figure above this median.

• Sabai Colony: Rs 1,900 per sq.ft (2024)
• Sabai Colony 1st Main Road: Rs 1,900 per sq.ft (2024)
• Sabai Colony 2nd Main Road: Rs 1,900 per sq.ft (2024)
• Sabai Colony Main Road: Rs 1,900 per sq.ft (2024)
• Roja Thottam Main Road: Rs 3,500 per sq.ft (2024)
• R.N.K. Avenue: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ruby Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees together to Rs 2,88,000. It is important to 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 Ruby Avenue?

The Sub Registrar Office that covers Ruby Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is processed in accordance with the regulations set by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Ruby Avenue?

The current guideline value of Ruby Avenue is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,200 per sq.ft in 2024, an increase of 7%. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Ruby Avenue?

Ruby Avenue is classified as Residential Class I Type - III.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Ruby Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 32,00,000 would incur a stamp duty of Rs 2,24,000 at 7%.