Guideline Value for R.V. Nagar 68th Street

R.V. Nagar 68th Street guideline value

The current guideline value of R.V. Nagar 68th 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 68th Street has changed

Looking at the historical revisions, the guideline value for R.V. Nagar 68th Street has seen several changes. The 2007 revision set the value at Rs 1,460 per sq.ft, which then increased significantly to Rs 4,500 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision has raised the value to Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Between the 2007 and 2012 revisions, there was a substantial increase of 208%. Overall, from 2007 to 2024, the guideline value has increased by 236%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values 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 the same as the current guideline value for R.V. Nagar 68th Street.

• R.V. Nagar 67th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69A Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 66th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 65th 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 68th 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 at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar 68th Street?

The Sub Registrar Office that covers R.V. Nagar 68th 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 information.

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

The guideline value is a crucial factor during the registration 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 government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on the latest revisions. It is advisable to check the current guideline value before proceeding with any transaction to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of R.V. Nagar 68th Street?

The current guideline value of R.V. Nagar 68th 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 changed from Rs 1,460 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 236% over the years.

What is the land classification for R.V. Nagar 68th Street?

The land classification for R.V. Nagar 68th Street is Residential Class III Type - II.

Where can I find the Sub Registrar Office for R.V. Nagar 68th Street?

The Ashok Nagar Sub Registrar Office covers R.V. Nagar 68th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

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