Guideline Value for RK NAGAR

Rk Nagar guideline value

The current guideline value of Rk Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kovilkuppam village, under the Manavalanagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rk Nagar has changed

Over the years, the guideline value for Rk Nagar has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. Following this, the 2023 revision brought it back to Rs 300 per sq.ft, maintaining the same figure in the 2024 revision as well. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, there has been no change in the guideline value.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Rk Nagar's 2024 figure below this median.

• Revathy Garden: Rs 300 per sq.ft (2024)
• Ramasamy Nagar: Rs 300 per sq.ft (2024)
• Sanjeevi Nagar: Rs 300 per sq.ft (2024)
• Raja Rathinam Nagar: Rs 400 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 per sq.ft (2024)
• Pemmasani Avenue: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Rk Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important 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.

Which Sub Registrar Office covers Rk Nagar?

The Sub Registrar Office that covers Rk Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kovilkuppam, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property registration. Ensuring that the transaction complies with these values helps to avoid legal complications in the future.

Frequently asked questions

What is the current guideline value of Rk Nagar?

The current guideline value of Rk Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions in 2012, 2017, 2023, and 2024. It was Rs 300 per sq.ft in 2012, decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Kovilkuppam?

Other streets in Kovilkuppam have varying guideline values, with rates ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft.

What are the stamp duty and registration fees for property in Rk Nagar?

The stamp duty for property in Rk Nagar is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 27,000.

Which office handles property registrations for Rk Nagar?

The Manavalanagar Sub Registrar Office handles property registrations for Rk Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.