Guideline Value for R.V. Nagar 7th Street

R.V. Nagar 7th Street guideline value

The current guideline value of R.V. Nagar 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of R.V. Nagar 7th Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,700 per sq.ft, marking an increase of 8% from the previous figure. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only two revisions available for R.V. Nagar 7th Street are from 2012 and 2024, with the latter reflecting the current guideline value.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for R.V. Nagar 7th Street.

• R.V. Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar Lane: Rs 1,900 per sq.ft (2024)
• R.V. Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 5th Street (Temple Street): Rs 2,700 per sq.ft (2024)
• R.V. Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar 7th Street?

The R.V. Nagar 7th Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 7th Street?

The current guideline value of R.V. Nagar 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, which is an increase of 8%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for R.V. Nagar 7th Street?

R.V. Nagar 7th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information by visiting the appropriate resources.