Guideline Value for Ruby Complex & Extension

Ruby Complex & Extension guideline value

The current guideline value of Ruby Complex & Extension in Neelankarai village is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of Ruby Complex & Extension has changed

The guideline value for Ruby Complex & Extension has undergone several revisions over the years. In 2002, the guideline value was Rs 148 per sq.ft, which increased to Rs 161 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 1,500 per sq.ft in 2007, reflecting an increase of 832%. By 2012, it was Rs 2,500 per sq.ft, representing a 67% increase from the previous revision. However, in 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 2,500 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,792%.

Guideline values in Neelankarai

Within Neelankarai village, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ruby Complex & Extension above this median.

• R.K.M.A. Nagar: Rs 1,700 per sq.ft (2024)
• Sakthiamman Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Sakthiamman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar Layout: Rs 1,700 per sq.ft (2024)
• Ranjith Nagar: Rs 3,900 per sq.ft (2024)
• Ranga Reddy Garden Pirathana Salai: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ruby Complex & Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. 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 Complex & Extension?

The Ruby Complex & Extension falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Neelankarai, as it serves as a benchmark for determining the stamp duty and registration fees. The value is set by the government and is periodically revised to reflect changes in the real estate market.

When a property transaction occurs, the guideline value is used to calculate the applicable fees. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct amount in taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Ruby Complex & Extension?

The current guideline value of Ruby Complex & Extension is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 148 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 1,792%.

What is the land classification of Ruby Complex & Extension?

Ruby Complex & Extension is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.