Guideline Value for Rakamth Goldencity

Rakamth Goldencity guideline value

The current guideline value of Rakamth Goldencity is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Melamaiyur village under the Chengleput Joint I SRO, classified as Mixed Type - II land.

How the guideline value of Rakamth Goldencity has changed

The guideline value of Rakamth Goldencity has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. It then decreased to Rs 670 per sq.ft in the 2017 revision, before rising to Rs 1,000 per sq.ft again in 2023. The latest revision in 2024 has increased the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the jump from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 represents a significant increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,000 per sq.ft, with a median value of Rs 1,212 per sq.ft. The guideline value for Rakamth Goldencity is below this median.

• Ramakrishna Nagar: Rs 1,320 per sq.ft (2024)
• Sabthagiri nagar: Rs 825 per sq.ft (2024)
• Sathyakanthy Avenue: Rs 1,650 per sq.ft (2024)
• Parvathi Nagar: Rs 1,100 per sq.ft (2024)
• Soundar Nagar: Rs 1,100 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rakamth Goldencity

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rakamth Goldencity?

The Sub Registrar Office that covers Rakamth Goldencity is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Melamaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider the guideline value during negotiations to ensure that the transaction aligns with government regulations.

Frequently asked questions

What is the current guideline value of Rakamth Goldencity?

The current guideline value of Rakamth Goldencity is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Rakamth Goldencity?

Rakamth Goldencity is classified as Mixed Type - II land, which indicates a blend of residential and commercial usage.

What are the stamp duty rates for property in Rakamth Goldencity?

The stamp duty rate for property transactions in Rakamth Goldencity is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Rakamth Goldencity?

The Chengleput Joint I Sub Registrar Office handles registrations for Rakamth Goldencity, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.