Guideline Value for R.V. Nagar 3rd Main Road

R.V. Nagar 3rd Main Road guideline value

The current guideline value of R.V. Nagar 3rd Main Road is Rs 2,700 per sq.ft. This road 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 3rd Main Road has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. The most recent revision in 2024 has increased this to Rs 2,700 per sq.ft, reflecting a change of +8% from the previous figure. The register has no figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only recorded changes in the guideline value for R.V. Nagar 3rd Main Road occurred between the 2012 and 2024 revisions. The 2024 figure aligns with the median guideline value for the village.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for R.V. Nagar 3rd Main Road.

• R.V. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 2nd Main Road: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 5th Street (Temple Street): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 3rd 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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total cost of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar 3rd Main Road?

The Sub Registrar Office that covers R.V. Nagar 3rd Main Road 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 used as a reference point for the registration of property transactions in Kodungaiyur. It helps determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is crucial for legal and taxation purposes. 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 3rd Main Road?

The current guideline value of R.V. Nagar 3rd Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, which had a guideline value of Rs 2,500 per sq.ft, the value has increased to Rs 2,700 per sq.ft in the 2024 revision, marking an increase of +8%.

What is the land classification for R.V. Nagar 3rd Main Road?

R.V. Nagar 3rd Main Road is classified as Residential Class I Type - I under the guideline value register.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in R.V. Nagar 3rd Main Road?

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