Guideline Value for R.K. NAGAR

R.K. Nagar guideline value

The current guideline value of R.K. Nagar in Periyapalayam village is Rs 300 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Arani_Tiruvallur SRO and is classified as Residential Class I Type - II.

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

In the 2017 revision, the guideline value was set at Rs 201 per sq.ft. This figure increased to Rs 300 per sq.ft in the 2023 revision, marking a change of +49%. The same value of Rs 300 per sq.ft was retained in the 2024 revision, resulting in no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +49%.

Guideline values in Periyapalayam

In Periyapalayam, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with a median of Rs 200 per sq.ft. The guideline value of R.K. Nagar is above this median.

• Royal Diamond City: Rs 402 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Periyapalayam Shri Bhavani Amman Nagar: Rs 160 per sq.ft (2024)
• Periyapalayam - Chennai Road: Rs 400 per sq.ft (2024)
• Panayancheri nagar: Rs 160 per sq.ft (2024)
• Palaiakkara Street: Rs 600 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 rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.K. Nagar?

The Sub Registrar Office that covers R.K. Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Periyapalayam, the guideline value is used to calculate the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall costs associated with property transactions. Ensuring that the property is valued accurately according to the guideline value helps in avoiding any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of R.K. Nagar?

The current guideline value of R.K. Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2017 revision to the 2023 revision, the guideline value increased from Rs 201 to Rs 300 per sq.ft, a change of +49%. The value remained the same in the 2024 revision.

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

R.K. Nagar is classified as Residential Class I Type - II under the guideline value register.

What are the stamp duty and registration fees for property in R.K. Nagar?

For a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the higher of the guideline value and the sale price.

Where is the Sub Registrar Office for R.K. Nagar located?

The Sub Registrar Office for R.K. Nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.