Guideline Value for R.V.Nagar 4th Street & Cross Street

R.V.Nagar 4th Street & Cross Street guideline value

The current guideline value for R.V.Nagar 4th Street & 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 4th Street & Cross Street has changed

The guideline value for R.V.Nagar 4th Street & Cross Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a 300% increase. However, the value dropped to Rs 4,020 per sq.ft in the 2017 revision, representing a decrease of 33%. The value then rose to Rs 6,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 6,500 per sq.ft in the 2024 revision, which is an 8% increase.

From 2017 to 2023, the increase was 49%, leading to the current guideline value of Rs 6,500 per sq.ft. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 333%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

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

• R.V.Nagar 5th Street & Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 3rd Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 2nd 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 4th Street & 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, bringing the total cost for these fees to Rs 5,85,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.V.Nagar 4th Street & Cross Street?

The Sub Registrar Office that covers R.V.Nagar 4th Street & 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 of property transactions in Ayanavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as determined by the government.

When buying or selling property, the guideline value helps in establishing the minimum price at which a property can be registered. This ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value of R.V.Nagar 4th Street & Cross Street?

The current guideline value of R.V.Nagar 4th Street & 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 from Rs 1,500 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, marking an overall increase of 333% over the years.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which is lower than the current guideline value of R.V.Nagar 4th Street & Cross Street.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Where is the Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.