Guideline Value for R.K.M. Nagar

R.K.M. Nagar guideline value

The current guideline value of R.K.M. Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Chikkarayapuram village under the Kunrathur SRO, classified as Mixed Special Type - I.

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

The guideline value for R.K.M. Nagar has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012, marking a rise of 367%. However, between 2012 and 2017, the value decreased to Rs 938 per sq.ft, a drop of 33%. The value then surged to Rs 1,800 per sq.ft in 2023, reflecting a substantial increase of 92%. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Chikkarayapuram

In Chikkarayapuram village, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is also the current guideline value for R.K.M. Nagar.

• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sangamithra Avenue: Rs 1,980 per sq.ft (2024)
• Sarasvathi Nagar: Rs 1,430 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,980 per sq.ft (2024)
• Poonniamman Nagar: Rs 1,430 per sq.ft (2024)
• Sivasakthi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in R.K.M. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. Please 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.M. Nagar?

The Sub Registrar Office that covers R.K.M. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Chikkarayapuram. It determines the minimum value at which a property can be sold, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value as it directly affects the financial obligations during the registration process. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications.

Frequently asked questions

What is the current guideline value for R.K.M. Nagar?

The current guideline value for R.K.M. 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 changed significantly, from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the median guideline value in Chikkarayapuram?

The median guideline value in Chikkarayapuram for 2024 is Rs 1,980 per sq.ft, which is the same as the current value for R.K.M. Nagar.

What are the stamp duty and registration fees for property in R.K.M. Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office do I need to visit for property registration in R.K.M. Nagar?

The Kunrathur Sub Registrar Office covers R.K.M. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.