Guideline Value for R.V. Nagar Main Road

R.V. Nagar Main Road guideline value

The current guideline value of R.V. Nagar Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of R.V. Nagar Main Road has changed

The guideline value for R.V. Nagar Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 717 per sq.ft. It increased dramatically to Rs 2,800 per sq.ft in 2007, marking a 291% rise. The value then changed to Rs 6,000 per sq.ft in 2012, which was a decrease of 33%. Following this, the value rose to Rs 4,020 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 6,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 6,600 per sq.ft, a 10% rise.

It is important to note that there is no figure for R.V. Nagar Main Road in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 821%.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, placing R.V. Nagar Main Road's 2024 figure above this median.

• R.V. Nagar Ist 2nd, 3rd Street, 4th street (D Block): Rs 6,600 per sq.ft (2024)
• Sabapathy Street: Rs 4,400 per sq.ft (2024)
• R.V. Nagar 3rd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 2nd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 1st Cross Street: Rs 6,600 per sq.ft (2024)
• Sannadhi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in R.V. Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, leading to a total cost of Rs 5,94,000. 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 more detailed calculations.

Which Sub Registrar Office covers R.V. Nagar Main Road?

The Sub Registrar Office that covers R.V. Nagar Main Road is the AnnaNagar 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 Aminjikarai

The guideline value is a crucial factor in the registration process when buying or selling property in Aminjikarai. It serves as a benchmark for assessing the value of the property and determining the applicable stamp duty and registration fees.

When a property is registered, the guideline value is used to calculate the taxes due. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the registration reflects an accurate value for the property transaction.

Frequently asked questions

What is the current guideline value of R.V. Nagar Main Road?

The current guideline value of R.V. Nagar Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 717 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 821% over the years.

What is the registration office for R.V. Nagar Main Road?

The registration office for R.V. Nagar Main Road is the AnnaNagar 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 Main Road?

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 rate, the stamp duty would be Rs 4,62,000.

What are the other streets with the same guideline value in Aminjikarai?

Other streets in Aminjikarai with the same guideline value of Rs 6,600 per sq.ft include R.V. Nagar Ist 2nd, 3rd Street, 4th street (D Block), R.V. Nagar 3rd Cross Street, R.V. Nagar 2nd Cross Street, and R.V. Nagar 1st Cross Street.