Guideline Value for R.K. NAGAR

R.K. Nagar guideline value

The current guideline value of R.K. Nagar, located in Chinnakavanam 2 village under the Ponneri SRO, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which took effect on 1 July 2024. The land classification for this area is Residential Class II Type - I.

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

In the register, there are no figures for R.K. Nagar for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 100 per sq.ft in the 2023 revision and remains the same in the 2024 revision, showing no change between these two years.

The 2024 revision has a guideline value of Rs 100 per sq.ft, which is consistent with the 2023 revision. Therefore, the change from 2023 to 2024 is +0%.

Guideline values in Chinnakavanam 2

In Chinnakavanam 2, there are six streets under the Ponneri SRO that carry the 2024 guideline value of Rs 100 per sq.ft. The median guideline value for these streets is also Rs 100 per sq.ft, indicating that R.K. Nagar's 2024 figure aligns with this median.

• Sai City: Rs 100 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 100 per sq.ft (2024)
• Jansi Co-Operative Nagar: Rs 100 per sq.ft (2024)
• Green Park: Rs 100 per sq.ft (2024)
• Grand Avenue: Rs 100 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 100 per sq.ft, the total guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.K. Nagar?

The Sub Registrar Office that covers R.K. Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chinnakavanam 2

The guideline value is a crucial factor during the registration of property transactions in Chinnakavanam 2. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

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

The current guideline value of R.K. Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for R.K. Nagar has remained Rs 100 per sq.ft from the 2023 revision to the 2024 revision, showing no change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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

The land classification for R.K. Nagar is Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,00,000, the stamp duty is Rs 7,000 and the registration fee is Rs 2,000, totaling Rs 9,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for R.K. Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office is responsible for property registrations in the area.