Guideline Value for R.V.Nagar 6th Street

R.V.Nagar 6th Street guideline value

The current guideline value of R.V.Nagar 6th 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of R.V.Nagar 6th Street has changed

The guideline value for R.V.Nagar 6th Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,500 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 6,000 per sq.ft in 2023, and further increased to Rs 6,500 per sq.ft in 2024, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has increased by 333%.

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 for these streets is Rs 4,900 per sq.ft, placing R.V.Nagar 6th Street's 2024 figure above this median.

• R.V.Nagar 5th Street & Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar Ist 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 3rd Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 2nd 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, while the registration fee at 2% would be Rs 1,30,000, bringing the total fees to Rs 5,85,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers R.V.Nagar 6th Street?

The Sub Registrar Office that covers R.V.Nagar 6th 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 when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of R.V.Nagar 6th Street?

The current guideline value of R.V.Nagar 6th Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with the latest figure of Rs 6,500 per sq.ft in 2024, up from Rs 6,000 in 2023, Rs 4,020 in 2017, and Rs 1,500 in 2007.

What are the stamp duty rates for property in R.V.Nagar 6th Street?

The stamp duty rate for property transactions in R.V.Nagar 6th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for R.V.Nagar 6th Street?

The Sub Registrar Office for R.V.Nagar 6th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value for streets in Ayanavaram is Rs 4,900 per sq.ft, which is below the current guideline value of Rs 6,500 per sq.ft for R.V.Nagar 6th Street.