Guideline Value for R.V. Nagar 4th Street

R.V. Nagar 4th Street guideline value

The current guideline value of R.V. Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of R.V. Nagar 4th Street has changed

The guideline value for R.V. Nagar 4th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the 2012 revision, which was Rs 2,500 per sq.ft. There are no figures available for the years 2003, 2007, 2017, and 2023 in the register for this street.

Prior to the 2012 revision, the guideline value for R.V. Nagar 4th Street remained unlisted in the register for the years 2002, 2003, 2007, and 2017. The 2012 revision marked the first recorded value for this street at Rs 2,500 per sq.ft, which was then revised to Rs 2,700 per sq.ft in 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 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, with a median value of Rs 2,700 per sq.ft. The guideline value for R.V. Nagar 4th Street matches this median.

• R.V. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 3rd 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)
• 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)

Stamp duty and registration fee for property in R.V. Nagar 4th Street

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, bringing the total to 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 use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers R.V. Nagar 4th Street?

The Sub Registrar Office that covers R.V. Nagar 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of R.V. Nagar 4th Street?

The current guideline value of R.V. Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, marking an increase of 8%. There are no figures available for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification for R.V. Nagar 4th Street?

R.V. Nagar 4th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

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

Where can I find the Sub Registrar Office for R.V. Nagar 4th Street?

The Madhavaram Sub Registrar Office covers R.V. Nagar 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your specific SRO through the provided link.