Guideline Value for R.V. Nagar 2nd Street

R.V. Nagar 2nd Street guideline value

The current guideline value of R.V. Nagar 2nd Street 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 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% increase from the previous year. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2017 for R.V. Nagar 2nd Street. The 2024 figure of Rs 2,700 per sq.ft is aligned with the median guideline value for the 1,318 streets in Kodungaiyur under the Madhavaram SRO.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values range from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. R.V. Nagar 2nd Street's 2024 figure matches this median.

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

Stamp duty and registration fee for property in R.V. Nagar 2nd Street

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, making the total charges Rs 2,43,000. Please note that the 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 detailed calculations.

Which Sub Registrar Office covers R.V. Nagar 2nd Street?

The Sub Registrar Office that covers R.V. Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall costs associated with the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of R.V. Nagar 2nd Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 2,500 per sq.ft to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 8%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 2,43,000.

Which office handles property registration in R.V. Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles property registration for R.V. Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for R.V. Nagar 2nd Street?

R.V. Nagar 2nd Street is classified as Residential Class I Type - I, which is important for determining its guideline value and usage.