Guideline Value for RUKMANI ROAD

Rukmani Road guideline value

The current guideline value of Rukmani Road in Thiruvanmiyur village is Rs 12,660 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Rukmani Road has changed

The guideline value for Rukmani Road has seen several revisions over the years. In 2002, the value was Rs 1,932 per sq.ft, which increased to Rs 2,137 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped significantly to Rs 3,500 per sq.ft, reflecting a 64% increase. The 2012 revision saw the value rise to Rs 11,500 per sq.ft, a substantial 229% increase from the previous figure. However, in 2017, the value dropped to Rs 7,705 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 11,500 per sq.ft, followed by a 10% increase to the current rate of Rs 12,660 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures available for any other years for this street in the register.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Rukmani Road's 2024 figure above this median.

• Rukmani Road Extension: Rs 11,000 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

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value would be Rs 1,26,60,000. The stamp duty at 7% would amount to Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, totaling Rs 11,39,400. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rukmani Road?

The Sub Registrar Office that covers Rukmani Road 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. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and avoid any legal complications during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions, reflecting the value of the property being sold.

Frequently asked questions

What is the current guideline value of Rukmani Road?

The current guideline value of Rukmani Road is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,932 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, showing an overall increase of 555% across the years.

What is the classification of Rukmani Road?

Rukmani Road is classified as Commercial Class I Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties on Rukmani Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 11,39,400.

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

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