Guideline Value for R.K.NAGAR (KALLIKUPPAM)

R.K.Nagar (Kallikuppam) guideline value

The current guideline value of R.K.Nagar (Kallikuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of R.K.Nagar (Kallikuppam) has changed

Over the years, the guideline value for R.K.Nagar (Kallikuppam) has seen several revisions. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained until 2017 when it decreased by 33% to Rs 1,005 per sq.ft. The value then increased significantly to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing R.K.Nagar (Kallikuppam)'s 2024 figure below this median.

• R.K.NAGAR (Near Santhosh Nagar): Rs 2,100 per sq.ft (2024)
• R.K.Dhatchan Nagar: Rs 1,600 per sq.ft (2024)
• Ring Road: Rs 5,500 per sq.ft (2024)
• Robinson Nagar: Rs 1,300 per sq.ft (2024)
• Reshma Garden: Rs 1,300 per sq.ft (2024)
• Red Hills Road (Kallikuppam): Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in R.K.Nagar (Kallikuppam)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, resulting in a total cost of Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers R.K.Nagar (Kallikuppam)?

The Sub Registrar Office that covers R.K.Nagar (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of R.K.Nagar (Kallikuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,500 per sq.ft in 2023, finally reaching Rs 1,600 per sq.ft in 2024.

What is the land classification for R.K.Nagar (Kallikuppam)?

The land classification for R.K.Nagar (Kallikuppam) is Residential Class III Type - III, indicating its suitability for residential development.

Where is the Villivakkam Sub Registrar Office located?

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

How is stamp duty calculated for properties in R.K.Nagar (Kallikuppam)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.