Guideline Value for R K NAGAR

R K Nagar guideline value

The current guideline value of R K Nagar, located in Keelakazhani village under the Gooduvancheri SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of R K Nagar has changed

The guideline value for R K Nagar has seen several revisions over the years. The 2012 revision set the rate at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was revised to Rs 402 per sq.ft, marking a decrease of 33%. The 2023 revision returned the value to Rs 600 per sq.ft, maintaining the same rate in the 2024 revision, resulting in a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 600 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The 2023 to 2024 revision shows no change, while the increase from 2017 to 2023 reflects a 49% rise.

Guideline values in Keelakazhani

In Keelakazhani village, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for R K Nagar is below this median.

• Ragavendra Garden: Rs 600 per sq.ft (2024)
• Power Avenue: Rs 700 per sq.ft (2024)
• Shri Shanmuga Nagar Pahase-II: Rs 600 per sq.ft (2024)
• Peruvazhi Nagar: Rs 700 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -II: Rs 800 per sq.ft (2024)
• Sri Kallazhagar City Phase I: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in R K Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers R K Nagar?

The R K Nagar area is covered by 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 Keelakazhani

The guideline value plays a critical role in the registration process when buying or selling properties in Keelakazhani. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of R K Nagar?

The current guideline value of R K Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2012 revision, with a decrease to Rs 402 per sq.ft in 2017 and a return to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification of R K Nagar?

The land classification for R K Nagar is Residential Special Type - II.

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

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

How is stamp duty calculated for properties in R K Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at 7%.