Guideline Value for R.V. Nagar 1st to 80th Street

R.V. Nagar 1st to 80th Street guideline value

The current guideline value for R.V. Nagar 1st to 80th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of R.V. Nagar 1st to 80th Street has changed

The guideline value for R.V. Nagar 1st to 80th Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 1,460 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking an increase of 208%. However, in the following revision in 2017, the value dropped to Rs 3,015 per sq.ft, which is a decrease of 33%. The most recent revision in 2024 has raised the guideline value to Rs 4,900 per sq.ft, reflecting an increase of 63% from 2017.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 236%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is the same as the current figure for R.V. Nagar 1st to 80th Street.

• R.V. Nagar 65th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 66th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 67th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 68th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69A Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 1st to 80th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or 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 to 80th Street?

The Sub Registrar Office that covers R.V. Nagar 1st to 80th Street is the Ashok Nagar 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 Kodambakkam

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value as it directly influences the overall cost of the transaction. Accurate knowledge of the guideline value ensures that all parties involved are informed about the financial implications of the property transfer.

Frequently asked questions

What is the current guideline value for R.V. Nagar 1st to 80th Street?

The current guideline value for R.V. Nagar 1st to 80th Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,460 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 236% over the years.

What are the stamp duty rates for properties in R.V. Nagar?

The stamp duty for properties in R.V. Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for R.V. Nagar?

The Ashok Nagar Sub Registrar Office is responsible for R.V. Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, which is the same as the current value for R.V. Nagar 1st to 80th Street.