Guideline Value for R.M.K. NAGAR

R.M.K. Nagar guideline value

The current guideline value of R.M.K. Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Nandambakkam village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

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

The guideline value for R.M.K. Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 603 per sq.ft. This increased to Rs 900 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, placing R.M.K. Nagar's 2024 value above this median.

• R.M.K. Nagar: Rs 990 per sq.ft (2024)
• Sabari Nagar: Rs 880 per sq.ft (2024)
• Ranganathapuram Colony Extn I to III: Rs 880 per sq.ft (2024)
• Ranganathapuram: Rs 880 per sq.ft (2024)
• Sam Leo Muthu Nagar Part - I, II: Rs 1,650 per sq.ft (2024)
• Ramani Iyer Nagar: Rs 440 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, leading to a total cost of Rs 89,100. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to property transactions.

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

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

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

The guideline value is a crucial factor when registering property transactions in Nandambakkam. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers navigate the registration process efficiently, ensuring compliance with local regulations and accurate financial planning for property transactions.

Frequently asked questions

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

The current guideline value of R.M.K. Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 603 per sq.ft to Rs 990 per sq.ft in 2024, marking a total increase of 64%. The most recent change was a 10% increase from Rs 900 per sq.ft in 2023.

What is the stamp duty for property in R.M.K. Nagar?

The stamp duty for property in R.M.K. Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300.

Which office handles property registrations in R.M.K. Nagar?

The Padappai Sub Registrar Office handles property registrations for R.M.K. Nagar. Its address is 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

Where can I find more information about the guideline value?

More information about the guideline value can be found in the Registration Department's guideline value register, accessible through the TNReginet platform.