Guideline Value for R.V. Nagar 74th Street

R.V. Nagar 74th Street guideline value

The current guideline value of R.V. Nagar 74th 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, and falls under the Residential Class III Type - II land classification.

How the guideline value of R.V. Nagar 74th Street has changed

Over the years, the guideline value of R.V. Nagar 74th Street has undergone several revisions. The earliest recorded figure 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 2012, remaining unchanged until the 2023 revision. In 2023, the value was again Rs 4,500 per sq.ft, but it increased by 9% to Rs 4,900 per sq.ft in the 2024 revision.

In summary, the changes between revisions are notable. From 2007 to 2012, there was a remarkable increase of 208%. The value remained constant from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 236%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 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 value is Rs 4,900 per sq.ft, which is equal to the guideline value of R.V. Nagar 74th Street.

• R.V. Nagar 73rd Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 75th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 72nd 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 A to Z Blocks & AA Block: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 74th 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 stamp duty and registration 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar 74th Street?

The Sub Registrar Office that covers R.V. Nagar 74th 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 property transactions in Kodambakkam. It helps determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of R.V. Nagar 74th Street?

The current guideline value of R.V. Nagar 74th 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 are the other streets in Kodambakkam with the same guideline value?

Other streets in Kodambakkam with the same guideline value of Rs 4,900 per sq.ft include R.V. Nagar 73rd Street, R.V. Nagar 75th Street, R.V. Nagar 72nd Street, R.V. Nagar 76th Street, and R.V. Nagar 69th Street.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, 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.