Guideline Value for R.V. Nagar A to Z Blocks & AA Bloock

R.V. Nagar A to Z Blocks & AA Bloock guideline value

The current guideline value for R.V. Nagar A to Z Blocks & AA Bloock is Rs 4,900 per sq.ft, effective from 1 July 2024. This area falls under the Kodambakkam village and is classified as Residential Class III Type - II, with the Ashok Nagar SRO overseeing the registration.

How the guideline value of R.V. Nagar A to Z Blocks & AA Bloock has changed

The guideline value for R.V. Nagar A to Z Blocks & AA Bloock has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 1,460 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, reflecting a rise of 208%. However, it then decreased to Rs 3,015 per sq.ft in 2017, marking a decline of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and most recently to Rs 4,900 per sq.ft in 2024, which is an increase of 9% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 236%. The value in 2017 was Rs 3,015 per sq.ft, and the most recent revision in 2024 is Rs 4,900 per sq.ft, showcasing significant fluctuations over the years.

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 the same as the guideline value for R.V. Nagar A to Z Blocks & AA Bloock.

• R.V. Nagar 76th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 75th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 74th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 73rd Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 72nd Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar A to Z Blocks & AA Bloock

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 fees together 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.

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

Which Sub Registrar Office covers R.V. Nagar A to Z Blocks & AA Bloock?

The R.V. Nagar A to Z Blocks & AA Bloock is covered by 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 in the registration of property transactions in Kodambakkam. It serves as the basis for calculating the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two will determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for R.V. Nagar A to Z Blocks & AA Bloock?

The current guideline value for R.V. Nagar A to Z Blocks & AA Bloock 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 is the role of the Ashok Nagar SRO?

The Ashok Nagar SRO is responsible for overseeing property registrations in the Kodambakkam village, including R.V. Nagar A to Z Blocks & AA Bloock. It ensures that all transactions comply with local regulations.

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

Stamp duty is 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 7% of this amount.

Where can I find more information about registration fees?

For more information about registration fees and to calculate them, you can use the stamp duty and registration fee calculator available online.