Guideline Value for R.K.Sanmugam Road

R.K.Sanmugam Road guideline value

The current guideline value of R.K.Sanmugam Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of R.K.Sanmugam Road has changed

The guideline value for R.K.Sanmugam Road has seen several revisions over the years. In 2002, the value was Rs 481 per sq.ft, which increased to Rs 533 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,650 per sq.ft in 2007, and then it jumped to Rs 8,000 per sq.ft in 2012. However, the value decreased to Rs 5,360 per sq.ft in 2017 before increasing again to Rs 8,000 per sq.ft in 2023, and finally reaching Rs 8,800 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,730%. Each revision reflects the changes in the real estate landscape, with no figures available for any other years.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,400 per sq.ft, placing R.K.Sanmugam Road above this median.

• Reddy Street: Rs 7,700 per sq.ft (2024)
• Rukmanai Ammal Street: Rs 3,300 per sq.ft (2024)
• Rathna Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Rathna Nagar: Rs 3,850 per sq.ft (2024)
• Saibaba Colony 1st Cross Street: Rs 6,600 per sq.ft (2024)
• Saibaba Colony 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in R.K.Sanmugam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers R.K.Sanmugam Road?

The Sub Registrar Office that covers R.K.Sanmugam Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted transparently and in accordance with legal requirements.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of R.K.Sanmugam Road?

The current guideline value of R.K.Sanmugam Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 481 in 2002 to Rs 8,800 in 2024, reflecting an overall increase of 1,730% over the years.

What are the guideline values of other streets in Virugambakkam?

Other streets in Virugambakkam have varying guideline values. For instance, Reddy Street is Rs 7,700 per sq.ft, while Rukmanai Ammal Street is Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in R.K.Sanmugam Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 7,92,000.

Which Sub Registrar Office covers R.K.Sanmugam Road?

The Virugambakkam Sub Registrar Office covers R.K.Sanmugam Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.