Guideline Value for R.V. Nagar 1st Cross Street

R.V. Nagar 1st Cross Street guideline value

The current guideline value of R.V. Nagar 1st Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of R.V. Nagar 1st Cross Street has changed

The guideline value for R.V. Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 2,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft by 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value rose to Rs 6,000 per sq.ft in 2023, and now stands at Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 136%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for the village is Rs 4,400 per sq.ft, placing R.V. Nagar 1st Cross Street above this median.

• R.V. Nagar 2nd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 3rd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar Ist 2nd, 3rd Street, 4th street (D Block): Rs 6,600 per sq.ft (2024)
• R.V. Nagar Main Road: Rs 6,600 per sq.ft (2024)
• Sabapathy Street: Rs 4,400 per sq.ft (2024)
• Sannadhi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.V. Nagar 1st Cross Street?

The Sub Registrar Office that covers R.V. Nagar 1st Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is sold or purchased, the guideline value acts as a benchmark for the transaction value. The stamp duty is calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of R.V. Nagar 1st Cross Street?

The current guideline value of R.V. Nagar 1st Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 2,800 per sq.ft in 2007, reaching Rs 6,000 in 2012, dropping to Rs 4,020 in 2017, then increasing to Rs 6,000 in 2023, and finally to Rs 6,600 in 2024.

What is the land classification for R.V. Nagar 1st Cross Street?

The land classification for R.V. Nagar 1st Cross Street is Residential Class I Type - III.

What are the registration fees for property in R.V. Nagar 1st Cross Street?

The registration fees for property transactions in R.V. Nagar 1st Cross Street are calculated based on the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 5,94,000 in fees, including stamp duty and registration fees.

Which Sub Registrar Office covers R.V. Nagar 1st Cross Street?

The AnnaNagar Sub Registrar Office covers R.V. Nagar 1st Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.