Guideline Value for R.R.Nagar bharathiyar street

R.R.Nagar bharathiyar street guideline value

The current guideline value of R.R.Nagar bharathiyar street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sekkadu village and falls under the Avadi SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for R.R.Nagar bharathiyar street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for R.R.Nagar bharathiyar street in the years 2002, 2003, and 2007. Therefore, the revisions we can track start from 2012 onward.

Guideline values in Sekkadu

In Sekkadu village, there are 56 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is the same as the 2024 figure for R.R.Nagar bharathiyar street.

• Reddiyar Street: Rs 1,075 per sq.ft (2024)
• Sanjeevi Nagar: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Sekkadu Mettu Street I: Rs 1,320 per sq.ft (2024)
• Sekkadu Mettu Street II: Rs 930 per sq.ft (2024)
• Singara Thirunagar: Rs 1,075 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers R.R.Nagar bharathiyar street?

The Sub Registrar Office that covers R.R.Nagar bharathiyar street is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when buying or selling property in Sekkadu, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the duty is charged on the sale price; otherwise, it is charged on the guideline value.

Frequently asked questions

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

The current guideline value of R.R.Nagar bharathiyar street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

The land classification for R.R.Nagar bharathiyar street is Residential Class II Type - I.

Which office handles the registration for properties in R.R.Nagar bharathiyar street?

The Avadi Sub Registrar Office handles the registration for properties in R.R.Nagar bharathiyar street.

How is stamp duty calculated for properties in Sekkadu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.