Guideline Value for R.V. Nagar

R.V. Nagar guideline value

The current guideline value of R.V. Nagar, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

Over the years, the guideline value for R.V. Nagar has seen significant changes. The 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged at Rs 1,500 per sq.ft in the 2023 revision. The 2024 revision also retained the value at Rs 1,500 per sq.ft, indicating no change from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 also stands at 49%. The values have remained stable at Rs 1,500 per sq.ft since 2023, reflecting consistency in the recent revisions.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. R.V. Nagar's 2024 figure aligns with this median.

• Ramu Street: Rs 1,500 per sq.ft (2024)
• Ramdoss Street: Rs 1,100 per sq.ft (2024)
• Sarathi Nagar: Rs 1,200 per sq.ft (2024)
• Raj Nagar: Rs 1,500 per sq.ft (2024)
• S.C.C. Anthony Pillai Nagar: Rs 1,500 per sq.ft (2024)
• S.C.C. Anthony Pillai Nagar-IV: Rs 1,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V. Nagar?

The Sub Registrar Office that covers R.V. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements of property transactions in the region.

Frequently asked questions

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

The current guideline value of R.V. Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for R.V. Nagar has remained at Rs 1,500 per sq.ft since the 2023 revision, with a 49% increase from Rs 1,005 per sq.ft in 2017. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

What is the land classification for R.V. Nagar?

R.V. Nagar is classified as Residential Special Type - I, which indicates the type of development permitted in the area.

What are the stamp duty rates for property in R.V. Nagar?

The stamp duty for property transactions in R.V. Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for R.V. Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.