Guideline Value for R.K. NAGAR

R.K. Nagar guideline value

The current guideline value of R.K. Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Sadayankuppam village, under the Thiruvottiyur SRO. The land classification for this area is Residential Special Type - III.

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

The guideline value for R.K. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, and the most recent revision in 2024 has increased it slightly to Rs 1,002 per sq.ft.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 902%. The changes between the revisions include a substantial increase of 149% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017 and saw a remarkable increase of 500% from 2007 to 2012. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with the median being Rs 1,002 per sq.ft. R.K. Nagar's 2024 figure is equal to this median.

• Revathi Nagar: Rs 1,000 per sq.ft (2024)
• Ramalakshmi Nagar: Rs 1,002 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Pancavarnam Street: Rs 1,001 per sq.ft (2024)
• Nethaji Nagar: Rs 1,002 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 1,002 per sq.ft, the guideline value would be Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total Rs 90,180. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sadayankuppam. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value of R.K. Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of 902% over this period.

What are the other streets in Sadayankuppam with their guideline values?

Other streets in Sadayankuppam include Revathi Nagar at Rs 1,000 per sq.ft, Ramalakshmi Nagar and Nethaji Nagar both at Rs 1,002 per sq.ft, Ponneri High Road at Rs 1,003 per sq.ft, Perumal Koil Street at Rs 1,000 per sq.ft, and Pancavarnam Street at Rs 1,001 per sq.ft.

What is the stamp duty rate for property in R.K. Nagar?

The stamp duty rate for property in R.K. Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.