Guideline Value for R.V.Nagar 3rd Cross Street

R.V.Nagar 3rd Cross Street guideline value

The current guideline value of R.V.Nagar 3rd Cross Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - I.

How the guideline value of R.V.Nagar 3rd Cross Street has changed

Over the years, the guideline value of R.V.Nagar 3rd Cross Street has seen significant changes. The 2003 revision set the value at Rs 1,198 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007, marking a 25% rise. The value then surged dramatically to Rs 6,000 per sq.ft in 2012, reflecting a 300% increase. However, it dropped to Rs 4,020 per sq.ft in 2017, a decline of 33%. The subsequent revisions saw the value rise to Rs 6,000 per sq.ft in 2023, and currently, it stands at Rs 6,500 per sq.ft in 2024, an 8% increase from the previous year.

It is important to note that the register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 443%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing R.V.Nagar 3rd Cross Street's 2024 figure above the median.

• R.V.Nagar 2nd 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 3rd 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, charged at 7%, would be Rs 4,55,000, while the registration fee at 2% would be Rs 1,30,000. Together, the total fees would be Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.V.Nagar 3rd Cross Street?

The R.V.Nagar 3rd Cross Street falls under 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 Ayanavaram

The guideline value plays a crucial role during the registration process when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure they meet the legal requirements during registration.

When a property is sold, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of R.V.Nagar 3rd Cross Street?

The current guideline value of R.V.Nagar 3rd 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, reflecting an overall increase of 443% over this period.

What are the stamp duty and registration fees for property in R.V.Nagar 3rd Cross Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is 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.

Which Sub Registrar Office covers R.V.Nagar 3rd Cross Street?

The AnnaNagar Sub Registrar Office covers R.V.Nagar 3rd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, with R.V.Nagar 3rd Cross Street's 2024 figure being above this median.