Guideline Value for R.K.R. Nagar

R.K.R. Nagar guideline value

The current guideline value of R.K.R. Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class IV Type - I.

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

The guideline value for R.K.R. Nagar has seen significant changes over the years. The earliest recorded revision was in 2002, where the value was Rs 254 per sq.ft. This increased to Rs 276 per sq.ft in 2003, marking a rise of 9%. The value then jumped to Rs 700 per sq.ft in 2007, a substantial increase of 154%. In 2012, the guideline value remained at Rs 2,000 per sq.ft, which continued unchanged until 2023.

In 2023, the value was again set at Rs 2,000 per sq.ft, but it increased by 10% to Rs 2,200 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has risen by 766%. Notably, there is no recorded figure for the year 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing R.K.R. Nagar's 2024 figure below that median.

• R.K. Sindicate Nagar: Rs 2,700 per sq.ft (2024)
• Red Hills road: Rs 5,500 per sq.ft (2024)
• Rangadoss Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Sai Nagar 1st Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.K.R. Nagar?

The Sub Registrar Office that covers R.K.R. Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

Frequently asked questions

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

The current guideline value of R.K.R. Nagar is Rs 2,200 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 254 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 766% over this period.

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

R.K.R. Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in R.K.R. Nagar.

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

Stamp duty in R.K.R. Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7% of the guideline value.