Guideline Value for R.V. Nagar 72nd Street

R.V. Nagar 72nd Street guideline value

The current guideline value of R.V. Nagar 72nd 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 72nd Street has changed

The guideline value for R.V. Nagar 72nd Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the value was Rs 1,460 per sq.ft. This figure saw a significant increase to Rs 4,500 per sq.ft in the 2012 revision, remaining unchanged until the 2023 revision, which also recorded Rs 4,500 per sq.ft. The latest revision in 2024 marked an increase to Rs 4,900 per sq.ft, reflecting a 9% rise from the previous year.

In summary, the changes in guideline value from 2007 to 2024 show a notable increase of 236%. The revisions for 2017, 2003, and 2002 do not have figures recorded for this street in the register.

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 aligns with the 2024 figure for R.V. Nagar 72nd Street.

• R.V. Nagar 73rd Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 74th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 75th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69A Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 76th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 72nd Street

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers R.V. Nagar 72nd Street?

The Sub Registrar Office that covers R.V. Nagar 72nd 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 plays a crucial role during the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable to the government, ensuring that these costs are calculated fairly based on the property's value.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that all property transactions are recorded accurately and transparently within the legal framework.

Frequently asked questions

What is the current guideline value of R.V. Nagar 72nd Street?

The current guideline value of R.V. Nagar 72nd 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, marking an overall increase of 236% over the years.

What is the land classification for R.V. Nagar 72nd Street?

R.V. Nagar 72nd Street is classified as Residential Class III Type - II.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers R.V. Nagar 72nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,43,000 at a rate of 7%.