Guideline Value for R.K.NAGAR (Near Santhosh Nagar)

R.K.NAGAR (Near Santhosh Nagar) guideline value

The current guideline value of R.K.NAGAR (Near Santhosh Nagar) is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of R.K.NAGAR (Near Santhosh Nagar) has changed

The guideline value for R.K.NAGAR has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 2,000 per sq.ft, but it increased to Rs 2,100 per sq.ft in the 2024 revision, marking a 5% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 5%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing R.K.NAGAR's current value below that median.

• R.K.Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• R.K.Dhatchan Nagar: Rs 1,600 per sq.ft (2024)
• Robinson Nagar: Rs 1,300 per sq.ft (2024)
• Ring Road: Rs 5,500 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 (Near Santhosh Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, making the total cost for these fees Rs 1,89,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers R.K.NAGAR (Near Santhosh Nagar)?

The Sub Registrar Office that covers R.K.NAGAR (Near Santhosh Nagar) 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 information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can impact negotiations and the overall transaction process.

Frequently asked questions

What is the current guideline value of R.K.NAGAR (Near Santhosh Nagar)?

The current guideline value of R.K.NAGAR (Near Santhosh Nagar) is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 2,000 per sq.ft in 2012 to Rs 2,100 per sq.ft in 2024, which is a 5% increase over this period. The value remained unchanged from 2012 to 2023.

What are the guideline values for other streets in Korattur?

Other streets in Korattur have varying guideline values, ranging from Rs 1,100 to Rs 8,200 per sq.ft. R.K.NAGAR's value is below the median of Rs 2,500 per sq.ft in this area.

What fees are associated with property transactions in R.K.NAGAR?

When registering property in R.K.NAGAR, buyers should expect to pay stamp duty at 7% of the guideline value and a registration fee at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for R.K.NAGAR?

The Villivakkam Sub Registrar Office covers R.K.NAGAR and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles all registration activities for the area.