Guideline Value for RKV nagar

RKV nagar guideline value

The current guideline value of RKV nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of RKV nagar has changed

The guideline value for RKV nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, this value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for RKV nagar.

• Rosi Garden: Rs 2,200 per sq.ft (2024)
• Rukmani nagar: Rs 3,250 per sq.ft (2024)
• R.C.M. School Street: Rs 2,200 per sq.ft (2024)
• Sabapathi mudaliar street: Rs 2,200 per sq.ft (2024)
• Sakthi nagar: Rs 3,250 per sq.ft (2024)
• Sakthi nagar (contonment backside): Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in RKV nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 RKV nagar?

The Sub Registrar Office that covers RKV nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation of the property.

When a property transaction occurs, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value helps in establishing a fair price for the property, which is crucial for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of RKV nagar?

The current guideline value of RKV nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

What are the stamp duty rates for properties in RKV nagar?

The stamp duty for properties in RKV nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification for RKV nagar?

RKV nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.