Guideline Value for R.V. Nagar 73rd Street

R.V. Nagar 73rd Street guideline value

The current guideline value of R.V. Nagar 73rd 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 73rd Street has changed

The guideline value of R.V. Nagar 73rd Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline 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, which remained unchanged until the 2023 revision, where it stayed at Rs 4,500 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 236%. The revisions for the years 2017, 2003, and 2002 have no figures listed for this street in the register.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of R.V. Nagar 73rd Street.

• R.V. Nagar 72nd Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 74th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 75th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 76th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69A Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 73rd 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 stamp duty and registration would be 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers R.V. Nagar 73rd Street?

The Sub Registrar Office that covers R.V. Nagar 73rd 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 in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the fees, which can significantly impact the overall cost of the transaction. It is essential to check the latest guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of R.V. Nagar 73rd Street?

The current guideline value of R.V. Nagar 73rd 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, marking an overall increase of 236%.

What is the land classification for R.V. Nagar 73rd Street?

The land classification for R.V. Nagar 73rd Street is Residential Class III Type - II.

Where can I find the registration office for R.V. Nagar 73rd Street?

The registration office for R.V. Nagar 73rd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in R.V. Nagar 73rd Street?

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 at 7% would be Rs 3,43,000.