Guideline Value for RUKUMANI NAGAR (N)

Rukumani Nagar (N) guideline value

The current guideline value of Rukumani Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Rukumani Nagar (N) has changed

The guideline value for Rukumani Nagar (N) has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, an increase of 10% from Rs 600 per sq.ft in the 2023 revision. Prior to that, in 2017, the value was Rs 402 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. The 2012 revision also recorded a value of Rs 600 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street. Therefore, the earliest recorded figure is from 2012, which was Rs 600 per sq.ft.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, indicating that the guideline value for Rukumani Nagar (N) is below the median.

• Sabathi Nagar (Per): Rs 440 per sq.ft (2024)
• Sadasivam Salai (Ward -18): Rs 1,320 per sq.ft (2024)
• Sadasivam Salai (Ward -2): Rs 1,320 per sq.ft (2024)
• Roshan Babu Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Sagunthapuram (N): Rs 660 per sq.ft (2024)
• Rani Mangammal Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Rukumani Nagar (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these charges to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rukumani Nagar (N)?

The Sub Registrar Office that covers Rukumani Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

When engaging in property transactions, it is essential to consider the guideline value to ensure compliance with local regulations and to accurately assess the financial implications of the purchase or sale. This knowledge helps in understanding the costs involved in property registration.

Frequently asked questions

What is the current guideline value of Rukumani Nagar (N)?

The current guideline value of Rukumani Nagar (N) is Rs 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 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017.

What is the land classification for Rukumani Nagar (N)?

Rukumani Nagar (N) is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Rukumani Nagar (N)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Rukumani Nagar (N)?

The Chengleput Joint II Sub Registrar Office covers Rukumani Nagar (N), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.