Guideline Value for R.V Nagar

R.V Nagar guideline value

The current guideline value of R.V Nagar, located in Karanaipuducheri village, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of R.V Nagar has changed

The guideline value for R.V Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. However, the value rebounded significantly in the 2023 revision, returning to Rs 1,200 per sq.ft. The latest revision in 2024 maintained this figure, resulting in no percentage change from the previous year.

Looking at the changes from 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 1,200 per sq.ft.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, placing R.V Nagar's 2024 figure above this median.

• Royal Avenue: Rs 2,239 per sq.ft (2024)
• Sai Empire: Rs 1,650 per sq.ft (2024)
• Sai Empire(349/13,14): Rs 1,650 per sq.ft (2024)
• Sai Empire(350/10a3a,10b3a): Rs 1,200 per sq.ft (2024)
• Sairam Nagar: Rs 701 per sq.ft (2024)
• Sai Ram Nagar Extension-I: Rs 700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees together to Rs 1,08,000. It's important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers R.V Nagar?

The Sub Registrar Office that covers R.V Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded accurately and transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

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

The current guideline value of R.V Nagar is Rs 1,200 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 back to Rs 1,200 per sq.ft in 2023, and remains at Rs 1,200 per sq.ft in 2024.

What is the land classification for R.V Nagar?

R.V Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for R.V Nagar?

The registration office for R.V Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 12,00,000 would incur a stamp duty of Rs 84,000 at the rate of 7%.