Guideline Value for R.K. Shanmugam Salai

R.K. Shanmugam Salai guideline value

The current guideline value of R.K. Shanmugam Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Mixed Type - I.

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

The guideline value for R.K. Shanmugam Salai has undergone several revisions over the years. In 2012, the guideline value was Rs 8,000 per sq.ft, which decreased to Rs 5,360 per sq.ft in 2017. This was a decline of 33%. However, the value saw a significant increase of 49% in 2023, reaching Rs 8,000 per sq.ft. The latest revision in 2024 has further increased the value to Rs 8,800 per sq.ft, marking a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing R.K. Shanmugam Salai's 2024 figure above this median.

• R.K. Shanmugam Salai Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be 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 important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers R.K. Shanmugam Salai 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

Frequently asked questions

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

The current guideline value of R.K. Shanmugam Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

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, then increased to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification of R.K. Shanmugam Salai?

The land classification for R.K. Shanmugam Salai is Mixed Type - I, indicating a blend of residential and commercial usage in the area.

What are the stamp duty rates applicable for properties in R.K. Shanmugam Salai?

The stamp duty for properties in R.K. Shanmugam Salai is charged at 7% of the guideline value or the sale price, whichever is higher.

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

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