Guideline Value for R.V. Nagar 69th Street

R.V. Nagar 69th Street guideline value

The current guideline value of R.V. Nagar 69th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of R.V. Nagar 69th Street has changed

The guideline value for R.V. Nagar 69th Street has undergone several revisions over the years. The oldest recorded figure is from 2007, which was Rs 1,460 per sq.ft. This value saw a significant increase to Rs 4,500 per sq.ft in both 2012 and 2023. However, there was no figure recorded for the years 2002, 2003, and 2017. The most recent revision in 2024 raised the guideline value to Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 236%. The jump from Rs 1,460 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024 highlights the substantial changes in property valuation in this area.

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 69th Street.

• R.V. Nagar 69A Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 68th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 67th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 72nd Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 66th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 73rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 69th 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, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. 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 69th Street?

The Sub Registrar Office that covers R.V. Nagar 69th 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 plays a crucial role when buying or selling property in Kodambakkam. It serves as the basis for calculating the stamp duty and registration fees that are mandatory during property transactions. Buyers and sellers need to be aware of the current guideline value to ensure accurate financial planning for these additional costs.

When a property is registered, the guideline value is used to determine the official valuation of the property. This valuation is important for both taxation purposes and legal documentation, ensuring that the transaction is recorded accurately in the government registry.

Frequently asked questions

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

The current guideline value of R.V. Nagar 69th 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, reflecting an overall increase of 236% over the years.

What are the stamp duty and registration fees for a property in R.V. Nagar 69th Street?

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 in fees.

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

The Ashok Nagar Sub Registrar Office covers R.V. Nagar 69th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of R.V. Nagar 69th Street?

R.V. Nagar 69th Street is classified as Residential Class III Type - II.