Guideline Value for R.K. Shanmugam Salai Extension

R.K. Shanmugam Salai Extension guideline value

The current guideline value for R.K. Shanmugam Salai Extension is Rs 8,800 per sq.ft. This property is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Mixed Type - I land.

How the guideline value of R.K. Shanmugam Salai Extension has changed

The guideline value for R.K. Shanmugam Salai Extension has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, which is a significant increase from Rs 5,360 per sq.ft in the 2017 revision. The 2012 revision had set the value at Rs 8,000 per sq.ft, indicating a decrease of 33% from 2012 to 2017, followed by an increase of 64% from 2017 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. Thus, the only relevant figures are from 2012, 2017, and 2024.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. R.K. Shanmugam Salai Extension's guideline value of Rs 8,800 per sq.ft is above this median.

• R.K. Shanmugam Salai: Rs 8,800 per sq.ft (2024)
• River side Street (Parallel to Kasi Theatre Bridge): Rs 4,900 per sq.ft (2024)
• River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar): Rs 4,900 per sq.ft (2024)
• Reserve Bank Colony (Kamarajar Salai): Rs 5,500 per sq.ft (2024)
• Reddy Kuppam Road: Rs 4,900 per sq.ft (2024)
• R.C. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in R.K. Shanmugam Salai Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is essential 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 information.

Which Sub Registrar Office covers R.K. Shanmugam Salai Extension?

The Sub Registrar Office that covers R.K. Shanmugam Salai Extension is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is considered the minimum value for tax purposes. This means that the stamp duty will be calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for R.K. Shanmugam Salai Extension?

The current guideline value for R.K. Shanmugam Salai Extension is Rs 8,800 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, and then to Rs 8,800 per sq.ft in 2024, reflecting a 64% increase from 2017 to 2024.

What is the land classification for R.K. Shanmugam Salai Extension?

R.K. Shanmugam Salai Extension is classified as Mixed Type - I land, which indicates its diverse usage potential.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in R.K. Shanmugam Salai Extension?

Stamp duty for properties in R.K. Shanmugam Salai Extension is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.