Guideline Value for R.V. Nagar 69A Street

R.V. Nagar 69A Street guideline value

The current guideline value of R.V. Nagar 69A 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 69A Street has changed

The guideline value for R.V. Nagar 69A Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, which is an increase from the 2023 revision of Rs 4,500 per sq.ft, marking a 9% rise. Prior to that, the 2012 revision also recorded a value of Rs 4,500 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 9%. The consistent value of Rs 4,500 per sq.ft from 2012 to 2023 reflects stability before the recent adjustment in 2024.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value among these streets is Rs 4,900 per sq.ft, which is equal to the guideline value of R.V. Nagar 69A Street.

• R.V. Nagar 68th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 67th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 66th 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 69A 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, leading to a total of Rs 4,41,000 for these charges. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar 69A Street?

The Sub Registrar Office that covers R.V. Nagar 69A Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is an essential factor during 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 the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it's crucial to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid legal complications during registration.

Frequently asked questions

What is the current guideline value of R.V. Nagar 69A Street?

The current guideline value of R.V. Nagar 69A 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 increased from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024, marking a 9% rise. There was no change from 2012 to 2023, where it remained at Rs 4,500 per sq.ft.

What is the land classification for R.V. Nagar 69A Street?

The land classification for R.V. Nagar 69A Street is Residential Class III Type - II.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for R.V. Nagar 69A Street located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles registrations for properties in R.V. Nagar 69A Street.