Guideline Value for R.V.R. Nagar

R.V.R. Nagar guideline value

The current guideline value for R.V.R. Nagar, located in Kavanur village under the Gooduvancheri SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

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

The guideline value for R.V.R. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 155 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it dropped to Rs 536 per sq.ft in 2017 before rising again to Rs 800 per sq.ft in both 2023 and 2024, showing a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 416%.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, which matches the current guideline value for R.V.R. Nagar.

• Sai Nagar: Rs 800 per sq.ft (2024)
• Rithika Garden Phase -VII: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase -VI: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase -V: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase - II: Rs 1,000 per sq.ft (2024)
• Rithika Garden Phase I: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in R.V.R. Nagar

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that 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.R. Nagar?

The Sub Registrar Office that covers R.V.R. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When you register a property, the guideline value is used to ensure that the transaction is recorded at a fair value, preventing undervaluation of properties. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value for R.V.R. Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 155 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then dropping to Rs 536 per sq.ft in 2017. It has remained at Rs 800 per sq.ft in both 2023 and 2024.

What is the land classification for R.V.R. Nagar?

R.V.R. Nagar is classified as Residential Special Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in R.V.R. Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

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

The Gooduvancheri Sub Registrar Office covers R.V.R. Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.