Guideline Value for R.V. Nagar 5th Street

R.V. Nagar 5th Street guideline value

The current guideline value of R.V. Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of R.V. Nagar 5th Street has changed

The guideline value for R.V. Nagar 5th Street has seen revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. In the subsequent 2024 revision, the value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous figure. The register has no figures for the years 2003, 2007, 2017, and 2023 for this street.

Prior to the 2012 revision, there are no figures available in the register for the years 2002 and 2003. This means that the value has only been recorded from 2012 onwards, with the most recent update occurring in 2024.

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 for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 guideline value for R.V. Nagar 5th Street.

• R.V. Nagar 4th 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 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 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 5th 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, totaling Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.V. Nagar 5th Street?

The Sub Registrar Office that covers R.V. Nagar 5th Street 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 critical factor in the registration process for property transactions in Kodungaiyur. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. It is important to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of R.V. Nagar 5th Street?

The current guideline value of R.V. Nagar 5th 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, which is an 8% increase. There are no figures available for the years 2003, 2007, 2017, and 2023.

What is the land classification for R.V. Nagar 5th Street?

The land classification for R.V. Nagar 5th Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in R.V. Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,89,000 at 7% of the guideline value.