Guideline Value for R.R. NAGAR

R.R. Nagar guideline value

The current guideline value of R.R. Nagar, located in Vilingiyambakkam village under the Avadi SRO, is Rs 1,470 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - III land classification.

How the guideline value of R.R. Nagar has changed

The guideline value for R.R. Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,470 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 1,340 per sq.ft. The 2023 figure remained unchanged from the 2017 revision, which was also Rs 1,340 per sq.ft. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. This consistent valuation reflects the stability of the area over the years, with no changes recorded in the interim period from 2017 to 2023.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing R.R. Nagar's 2024 guideline value above this median.

• Roja St: Rs 935 per sq.ft (2024)
• Sadiq Basha Street: Rs 935 per sq.ft (2024)
• Reddy Street: Rs 810 per sq.ft (2024)
• Reddyar Garden: Rs 935 per sq.ft (2024)
• Ramn St: Rs 810 per sq.ft (2024)
• Sambangi St: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in R.R. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,470 per sq.ft, the total guideline value amounts to Rs 14,70,000. The stamp duty, charged at 7%, would be Rs 1,02,900, while the registration fee at 2% would be Rs 29,400. The total cost for these fees together would be Rs 1,32,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers R.R. Nagar?

The Sub Registrar Office that covers R.R. Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of R.R. Nagar?

The current guideline value of R.R. Nagar is Rs 1,470 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2023 to Rs 1,470 per sq.ft in 2024, marking a 10% increase. There was no change from 2017 to 2023, as the value remained at Rs 1,340 per sq.ft during that period.

What is the land classification for R.R. Nagar?

R.R. Nagar falls under the Residential Class V Type - III land classification, which is designated for residential purposes.

What are the stamp duty and registration fees for a property in R.R. Nagar?

For a property valued at Rs 14,70,000, the stamp duty would be Rs 1,02,900 and the registration fee would be Rs 29,400, totaling Rs 1,32,300. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for R.R. Nagar?

The Avadi Sub Registrar Office handles property registrations for R.R. Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.