Guideline Value for THE RITZ AVENUE

The Ritz Avenue guideline value

The current guideline value of The Ritz Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thandalam village, under the Thiruporur SRO, and is classified as Mixed Special Type - I.

How the guideline value of The Ritz Avenue has changed

The register has no figure for The Ritz Avenue in the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,500 per sq.ft, and the latest 2024 revision increased it to Rs 1,650 per sq.ft, marking a change of +10% from the previous year.

The 2024 guideline value of Rs 1,650 per sq.ft aligns with the median value of Rs 1,650 per sq.ft for the 26 streets in Thandalam that carry a 2024 figure. The increase from 2023 to 2024 reflects the adjustments made in the guideline values across the region.

Guideline values in Thandalam

The village figures show that the guideline values for the 26 streets in Thandalam range from Rs 660 to Rs 3,275 per sq.ft, with the median value being Rs 1,650 per sq.ft. The Ritz Avenue's 2024 figure matches this median value. Below are the guideline values for other streets in Thandalam:

• Sun Shine Avenue Ph II: Rs 886 per sq.ft (2024)
• Sunshine Avenue: Rs 1,320 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,100 per sq.ft (2024)
• Sri Agathiyar Avenue: Rs 770 per sq.ft (2024)
• Vip City In Life On Green: Rs 1,100 per sq.ft (2024)
• Palm Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in The Ritz Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that the 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 calculations.

Which Sub Registrar Office covers The Ritz Avenue?

The Ritz Avenue falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, 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 Thandalam

The guideline value plays a crucial role during the registration process when buying or selling property in Thandalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transactions are conducted fairly and transparently.

When a property is sold, the guideline value is used to calculate the applicable charges, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of The Ritz Avenue?

The current guideline value of The Ritz Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for The Ritz Avenue has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Thandalam?

The guideline values for other streets in Thandalam range from Rs 660 to Rs 3,275 per sq.ft. The Ritz Avenue's 2024 figure matches the median value of Rs 1,650 per sq.ft for the village.

What are the stamp duty and registration fees for properties in The Ritz Avenue?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. The duty is calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for The Ritz Avenue?

The Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone, handles registrations for The Ritz Avenue.