Guideline Value for R.K. Nagar

R.K. Nagar guideline value

The current guideline value of R.K. Nagar, located in Kerugambakkam village under the Pammal SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

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 the 2017 revision, the value was set at Rs 1,206 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of R.K. Nagar is below this median.

• R.K.B. Nagar: Rs 1,980 per sq.ft (2024)
• R.K.Nagar (S.No.595/7a): Rs 2,200 per sq.ft (2024)
• R.K. Arasu Street: Rs 1,980 per sq.ft (2024)
• Roja Avenue: Rs 1,980 per sq.ft (2024)
• Royal Vila: Rs 1,980 per sq.ft (2024)
• Sai Avenue: Rs 1,980 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for stamp duty and registration fees to Rs 1,78,200. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers R.K. Nagar?

The Sub Registrar Office that covers R.K. Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value ensures that the government receives the appropriate taxes based on the property's value. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

Frequently asked questions

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

The current guideline value of R.K. Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 64%.

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 is the Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What other streets have similar guideline values in Kerugambakkam?

Other streets in Kerugambakkam with similar guideline values include R.K.B. Nagar, R.K. Arasu Street, Roja Avenue, Royal Vila, and Sai Avenue, all at Rs 1,980 per sq.ft.