Guideline Value for RUKMANI ROAD EXTENSION

Rukmani Road Extension guideline value

The current guideline value for Rukmani Road Extension is Rs 11,000 per sq.ft, effective from 1 July 2024. This area falls under Thiruvanmiyur village and is classified as Residential Special Type - II in the Chennai South Joint I SRO.

How the guideline value of Rukmani Road Extension has changed

In the 2012 revision, the guideline value was Rs 10,000 per sq.ft. This figure was revised to Rs 6,700 per sq.ft in 2017, marking a decrease of 33%. Following that, the value increased to Rs 10,000 per sq.ft in 2023, and then to Rs 11,000 per sq.ft in 2024, representing a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Rukmani Road Extension. Therefore, the changes noted above reflect only the years with available data.

Guideline values in Thiruvanmiyur

Thiruvanmiyur village has a total of 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft as of 2024. The median guideline value for the area is Rs 9,900 per sq.ft, making the 2024 figure for Rukmani Road Extension above this median.

• Rukmani Road: Rs 12,660 per sq.ft (2024)
• Reserve Bank Colony: Rs 9,900 per sq.ft (2024)
• Renganathapuram (Indra Nagar): Rs 9,900 per sq.ft (2024)
• Renganathapuram: Rs 9,900 per sq.ft (2024)
• Sakthi Nagar: Rs 8,250 per sq.ft (2024)
• Rathinam Nagar 9th West Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rukmani Road Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty is charged at 7%, which totals Rs 7,70,000, and the registration fee is 2%, amounting to Rs 2,20,000. Therefore, the total cost for stamp duty and registration fee would be Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Rukmani Road Extension?

The Sub Registrar Office that covers Rukmani Road Extension is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. For more details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruvanmiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Rukmani Road Extension?

The current guideline value for Rukmani Road Extension is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2012 to Rs 6,700 per sq.ft in 2017, then increased to Rs 10,000 per sq.ft in 2023, and finally to Rs 11,000 per sq.ft in 2024.

What is the land classification for Rukmani Road Extension?

Rukmani Road Extension is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Rukmani Road Extension?

The Sub Registrar Office for Rukmani Road Extension is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Rukmani Road Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,10,00,000 would incur a stamp duty of Rs 7,70,000 at 7%.