Guideline Value for Rukmani Colony

Rukmani Colony guideline value

The current guideline value of Rukmani Colony, located in Kottivakkam village under the Adayar SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - III land classification.

How the guideline value of Rukmani Colony has changed

The guideline value for Rukmani Colony has seen several revisions over the years. In 2002, the value was Rs 320 per sq.ft, which increased to Rs 381 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then it further increased to Rs 1,500 per sq.ft in 2012. However, the value decreased to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, and then to Rs 1,700 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 19% from 2002 to 2003, by 162% from 2003 to 2007, and by 50% from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a further increase of 13% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 431%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Rukmani Colony is below this median.

• Saminatha Nagar 10th Main Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 1st Joining Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 1st Main Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 2nd Main Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rukmani Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rukmani Colony?

The Sub Registrar Office that covers Rukmani Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The duty is charged on whichever value is higher, ensuring transparency and compliance with the legal requirements for property transactions.

Frequently asked questions

What is the current guideline value of Rukmani Colony?

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

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 320 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 431%.

What is the land classification of Rukmani Colony?

Rukmani Colony falls under the Residential Class V Type - III land classification.

What is the stamp duty rate for properties in Rukmani Colony?

The stamp duty rate for properties in Rukmani Colony is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Rukmani Colony located?

The Adayar Sub Registrar Office, which covers Rukmani Colony, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.