Guideline Value for R.V. Nagar 65th Street

R.V. Nagar 65th Street guideline value

The current guideline value of R.V. Nagar 65th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of R.V. Nagar 65th Street has changed

The guideline value for R.V. Nagar 65th Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 1,460 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a change of 208%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, reflecting a 9% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 236%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the guideline value of R.V. Nagar 65th Street.

• 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)
• R.V. Nagar 72nd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 65th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty is charged at 7%, amounting to Rs 3,43,000, and the registration fee is charged at 2%, totaling Rs 98,000. Therefore, the total cost for these fees would be Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar 65th Street?

The Sub Registrar Office that covers R.V. Nagar 65th 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately according to the prevailing rates in the area.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of R.V. Nagar 65th Street?

The current guideline value of R.V. Nagar 65th 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 increased from Rs 1,460 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing a total increase of 236% over the years.

What is the land classification for R.V. Nagar 65th Street?

The land classification for R.V. Nagar 65th Street is Residential Class III Type - II.

Where can I find the Sub Registrar Office for R.V. Nagar 65th Street?

The Sub Registrar Office for R.V. Nagar 65th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in R.V. Nagar 65th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000.