Guideline Value for R.K.Nagar

R.K.Nagar guideline value

The current guideline value of R.K.Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

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

The guideline value for R.K.Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 2,100 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,407 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 2,100 per sq.ft, and the current 2024 revision further increased it to Rs 2,310 per sq.ft, reflecting a 10% rise.

Between 2017 and 2023, the guideline value experienced a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is equal to the current guideline value of R.K.Nagar.

• R.M.K. Nagar: Rs 3,960 per sq.ft (2024)
• Rooby Flats: Rs 2,640 per sq.ft (2024)
• Royal Avenue: Rs 1,980 per sq.ft (2024)
• RSR Nagar: Rs 2,310 per sq.ft (2024)
• Ruby Builders: Rs 2,640 per sq.ft (2024)
• Ruby's Shoba Castle: Rs 3,740 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 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty, charged at 7%, would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total fees together to Rs 2,07,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.K.Nagar?

The Sub Registrar Office that covers R.K.Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of R.K.Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 in 2012 to Rs 1,407 in 2017, then to Rs 2,100 in 2023, and finally to Rs 2,310 in 2024. This reflects various increases and decreases over the years.

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

R.K.Nagar falls under the Residential Class II Type - I land classification.

Where can I find the registration office for R.K.Nagar?

The registration office for R.K.Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the 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, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,07,900.