Guideline Value for R.V.Nagar 2nd Cross Street

R.V.Nagar 2nd Cross Street guideline value

The current guideline value of R.V.Nagar 2nd Cross Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO and is classified as Residential Class I Type - I.

How the guideline value of R.V.Nagar 2nd Cross Street has changed

The guideline value for R.V.Nagar 2nd Cross Street has seen significant changes over the years. In 2003, the value was Rs 1,198 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007. The 2012 revision showed a decrease to Rs 6,000 per sq.ft, followed by a drop to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 6,500 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 8%. The 2007 to 2012 period saw a significant decrease of 33%, while the value surged by 300% from 2007 to 2012. Overall, from 2003 to 2024, the guideline value has increased by 443%. The register has no figure for the year 2002 for this street.

Guideline values in Ayanavaram

Ayanavaram has 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of R.V.Nagar 2nd Cross Street is above this median.

• R.V.Nagar 3rd Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 4th Street & Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 5th Street & Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 6th Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar Ist Cross Street: Rs 6,500 per sq.ft (2024)
• Sabapathy Poosari Street & Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.V.Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, totaling Rs 5,85,000. Please 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 details.

Which Sub Registrar Office covers R.V.Nagar 2nd Cross Street?

The Sub Registrar Office that covers R.V.Nagar 2nd Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of R.V.Nagar 2nd Cross Street?

The current guideline value of R.V.Nagar 2nd Cross Street is Rs 6,500 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 1,198 per sq.ft in 2003 to Rs 6,500 per sq.ft in 2024, with various increases and decreases along the way.

What is the stamp duty for property in R.V.Nagar 2nd Cross Street?

The stamp duty for property in R.V.Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for R.V.Nagar 2nd Cross Street?

The AnnaNagar Sub Registrar Office is responsible for R.V.Nagar 2nd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of R.V.Nagar 2nd Cross Street?

R.V.Nagar 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.