Guideline Value for R.V. Nagar 1st Main Road

R.V. Nagar 1st Main Road guideline value

The current guideline value of R.V. Nagar 1st Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of R.V. Nagar 1st Main Road has changed

The guideline value for R.V. Nagar 1st Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,500 per sq.ft. In 2024, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which aligns with the current value of R.V. Nagar 1st Main Road.

• R.V. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 2nd Main Road: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 3rd Main Road: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers R.V. Nagar 1st Main Road?

The Sub Registrar Office that covers R.V. Nagar 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per the government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of R.V. Nagar 1st Main Road?

The current guideline value of R.V. Nagar 1st Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then increased to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the registration office for R.V. Nagar 1st Main Road?

The registration office for R.V. Nagar 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in R.V. Nagar 1st Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.

What is the land classification for R.V. Nagar 1st Main Road?

R.V. Nagar 1st Main Road is classified as Residential Class I Type - I, which indicates its designation for residential purposes within the locality.