Guideline Value for RKP RESIDENCY

Rkp Residency guideline value

The current guideline value of Rkp Residency in Somangalam village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Mixed Type - I land.

How the guideline value of Rkp Residency has changed

According to the guideline value register, Rkp Residency has had a consistent guideline value of Rs 700 per sq.ft since the 2023 revision, which also recorded the same value. Prior to this, the revisions from 2017, 2012, 2007, 2003, and 2002 do not have any figures listed for this street.

Thus, there has been no change in the guideline value from 2023 to 2024, reflecting a 0% change. The current figure remains stable, indicating a consistent valuation for this property.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Rkp Residency's guideline value above this median.

• Real Value Nagar Phase III: Rs 350 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)
• Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Santhi Nagar: Rs 500 per sq.ft (2024)
• Raisa Nagar Annex: Rs 150 per sq.ft (2024)
• Raisa Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Rkp Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees together to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rkp Residency?

The Sub Registrar Office that covers Rkp Residency is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Somangalam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When buying or selling property, it is essential to ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process relies heavily on this valuation to maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Rkp Residency?

The current guideline value of Rkp Residency is Rs 700 per sq.ft, effective from 1 July 2024.

Have there been any changes in the guideline value recently?

Yes, the guideline value has remained unchanged at Rs 700 per sq.ft since the 2023 revision, reflecting a 0% change from the previous year.

What is the land classification for Rkp Residency?

Rkp Residency is classified as Mixed Type - I land according to the guideline value register.

How is the stamp duty calculated for properties in Rkp Residency?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 700 per sq.ft incurs a total stamp duty of Rs 49,000.

Where can I find the Sub Registrar Office for Rkp Residency?

The Sub Registrar Office for Rkp Residency is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details by visiting the relevant website.