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Guideline Value

Corporate

Guideline Value for School Road (R.V. Nagar)

₹2700/sq.ft.

The guideline value for School Road (r.v. Nagar) in Kodungaiyur village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kodungaiyur

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on School Road (r.v. Nagar)

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School Road (R.V. Nagar) guideline value

The current guideline value for School Road (R.V. Nagar) in Kodungaiyur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of School Road (R.V. Nagar) has changed

Over the years, the guideline value for School Road (R.V. Nagar) has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Subsequently, the value increased significantly to Rs 2,700 per sq.ft in the 2024 revision, marking a rise of 61% from the 2017 figure.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value for School Road (R.V. Nagar).

Stamp duty and registration fee for property in School Road (R.V. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the 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 details.

Which Sub Registrar Office covers School Road (R.V. Nagar)?

The Sub Registrar Office that covers School Road (R.V. Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodungaiyur. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the duty is calculated based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for School Road (R.V. Nagar)?

The current guideline value for School Road (R.V. Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then to Rs 2,700 per sq.ft in 2024. This reflects an increase of 61% from 2017 to 2024 and an overall increase of 8% from 2012 to 2024.

What is the land classification for School Road (R.V. Nagar)?

School Road (R.V. Nagar) is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for School Road (R.V. Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000.