Guideline Value for R.R Salai

R.R Salai guideline value

The current guideline value of R.R Salai in Mambakkam village is Rs 305 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of R.R Salai has changed

The guideline value for R.R Salai has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 200 per sq.ft. With the latest revision in 2024, the value increased to Rs 305 per sq.ft, reflecting a notable change of +53% from the previous year.

This increase aligns with the trend observed in the guideline values for other streets in Mambakkam. The current figure for R.R Salai is significant as it matches the median guideline value for the village, which is also Rs 305 per sq.ft based on the 2024 revisions.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, which is equal to the guideline value of R.R Salai. Below are the guideline values for other streets in Mambakkam:

• Saar City: Rs 1,418 per sq.ft (2024)
• Saar City Annex-1: Rs 1,050 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 250 per sq.ft (2024)
• Perumal Kovil Street: Rs 305 per sq.ft (2024)
• SriAnandavalli Nagar: Rs 700 per sq.ft (2024)
• PalliKooda Street: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in R.R Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total cost for these fees to Rs 27,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.R Salai?

R.R Salai is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer approaches the registration office, the guideline value helps ensure that the property is valued fairly for taxation purposes. This process is essential for maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of R.R Salai?

The current guideline value of R.R Salai is Rs 305 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 305 per sq.ft in 2024, marking a change of +53%.

What is the classification of land for R.R Salai?

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

Where can I find the registration office for R.R Salai?

The registration office covering R.R Salai is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 27,450.