Guideline Value for R.K.NAGAR

R.K.Nagar guideline value

The current guideline value of R.K.Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

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

Over the years, the guideline value of R.K.Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, the subsequent 2023 revision increased it to Rs 1,500 per sq.ft, followed by the current rate of Rs 1,700 per sq.ft effective from 1 July 2024, marking a significant increase of 13% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the value has risen by 13%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing R.K.Nagar's 2024 figure below this median.

• R.K.Nagar Road: Rs 1,700 per sq.ft (2024)
• Royal Enclave: Rs 3,900 per sq.ft (2024)
• Royal Enclave Extension: Rs 3,900 per sq.ft (2024)
• Sai Baba Kovil Cross Salai: Rs 3,300 per sq.ft (2024)
• Sai Baba Kovil Salai: Rs 3,300 per sq.ft (2024)
• Sampantham Garden: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty charged at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.K.Nagar?

The R.K.Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Enjambakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

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

The current guideline value of R.K.Nagar is Rs 1,700 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, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of R.K.Nagar?

R.K.Nagar is classified as Residential Class IV Type - I according to the land classification standards.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.