Guideline Value for R.V.NAGAR

R.V.Nagar guideline value

The current guideline value of R.V.Nagar, located in Avaloor village, is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the jurisdiction of the Walajabad Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

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

The guideline value for R.V.Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 150 per sq.ft. This was followed by a decrease to Rs 100 per sq.ft in 2017, marking a 33% drop. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 150 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that there are no figures available for R.V.Nagar in the revisions from 2002, 2003, and 2007. Therefore, the most recent figures are from 2012, 2017, 2023, and 2024.

Guideline values in Avaloor

Avaloor village features 13 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 450 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for R.V.Nagar is below this median.

• Raghavan Naicker Nagar: Rs 100 per sq.ft (2024)
• Poorna Nagar: Rs 150 per sq.ft (2024)
• Sri Balaganapathy Garden: Rs 300 per sq.ft (2024)
• Sri Sudharshana Garden: Rs 150 per sq.ft (2024)
• S.S Nagar: Rs 200 per sq.ft (2024)
• Sss Nagar: Rs 180 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, calculated at 7%, would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000. Thus, the total cost for these fees would be Rs 13,500. 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 the 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 Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property in Avaloor, as it determines the minimum value on which stamp duty and registration fees are calculated. This value ensures that the government receives appropriate revenue from property transactions.

When a property is registered, the guideline value will be compared to the sale price. The higher of the two will be used to calculate the applicable duties and fees, ensuring that both the buyer and seller comply with the regulations set forth by the Registration Department.

Frequently asked questions

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

The current guideline value for R.V.Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value of R.V.Nagar changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased back to Rs 150 per sq.ft in 2023 and remains the same in 2024.

What are the other streets in Avaloor and their guideline values?

Other streets in Avaloor have varying guideline values, ranging from Rs 100 to Rs 300 per sq.ft. For instance, Raghavan Naicker Nagar is Rs 100 per sq.ft, while Sri Balaganapathy Garden is Rs 300 per sq.ft.

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

Stamp duty in R.V.Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 1,50,000 would incur a stamp duty of Rs 10,500.

Where can I find the Sub Registrar Office for R.V.Nagar?

The Sub Registrar Office for R.V.Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.