Guideline Value for R.R.NAGAR

R.R.Nagar guideline value

The current guideline value for R.R.Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,500 per sq.ft, effective from the 2024 revision on 1 July 2024. This area is classified as Commercial Class I Type - III.

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

Since the 2002 revision, the register has no figures for R.R.Nagar for the years 2002, 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 2,500 per sq.ft, which remained unchanged through the 2023 revision, and continues to be the same in the 2024 revision.

Overall, from the 2017 revision to the 2024 revision, there has been no change in the guideline value, maintaining a consistent rate of Rs 2,500 per sq.ft across these years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing R.R.Nagar's 2024 figure above this median.

• Roy Nagar: Rs 2,200 per sq.ft (2024)
• Roja Nagar (Ward-29): Rs 2,200 per sq.ft (2024)
• Roja Nagar (Ward-14): Rs 2,200 per sq.ft (2024)
• Roja Nagar Extn (Ward-14): Rs 2,200 per sq.ft (2024)
• Roja Nagar 2nd st (Ward No.14): Rs 2,200 per sq.ft (2024)
• Roja Nagar 2nd Main Road (Ward 14): Rs 2,200 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would amount to Rs 50,000, totaling Rs 2,25,000. 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 R.R.Nagar?

The Sub Registrar Office that covers R.R.Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Madhavaram. It serves as a reference point 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 is considered alongside the sale price. If the sale price is lower than the guideline value, the duty is charged based on the guideline value, ensuring compliance with regulatory standards.

Frequently asked questions

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

The current guideline value of R.R.Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

There have been no changes in the guideline value for R.R.Nagar from 2017 to 2024, remaining at Rs 2,500 per sq.ft across the revisions in 2017, 2023, and 2024.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft, with the median being Rs 1,600 per sq.ft. R.R.Nagar's value is above this median.

How is stamp duty calculated for properties in R.R.Nagar?

Stamp duty for properties in R.R.Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,500 per sq.ft results in a stamp duty of Rs 1,75,000.

Where can I find the Sub Registrar Office for R.R.Nagar?

The Sub Registrar Office for R.R.Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details through the provided link.