Guideline Value for R.M.K Street

R.M.K Street guideline value

The current guideline value of R.M.K Street is Rs 1,500 per sq.ft, as per the 2023 revision. This street is located in Vandalur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of R.M.K Street has changed

The guideline value of R.M.K Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 550 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 173%. However, the 2017 revision saw a decrease to Rs 1,005 per sq.ft, which was a drop of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,500 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 173%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Currently, the only guideline value available for R.M.K Street is Rs 1,500 per sq.ft. There are no other streets in Vandalur listed with specific guideline values.

Stamp duty and registration fee for property in R.M.K Street

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.M.K Street?

The R.M.K Street is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Vandalur. When you buy or sell property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the authorities.

It is important for buyers and sellers to be aware of the guideline value in order to understand the financial implications of the property transaction. This value is a key factor in calculating the costs associated with registration, which can significantly affect the overall expenditure involved in the property deal.

Frequently asked questions

What is the current guideline value of R.M.K Street?

The current guideline value of R.M.K Street is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for R.M.K Street?

The land classification for R.M.K Street is Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,35,000.