Guideline Value

Corporate

Guideline Value for Rukmani Nagar 1st Street

₹3050/sq.ft.

The guideline value for Rukmani Nagar 1st Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3050 per sq.ft, effective 1 July 2024. It was Rs 2750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3050 /sq.ft.
From 1-4-2023 ₹2750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1842 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2750 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹400 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹132 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Rukmani Nagar 1st Street

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Rukmani Nagar 1st Street guideline value

The current guideline value of Rukmani Nagar 1st Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Rukmani Nagar 1st Street has changed

Over the years, the guideline value of Rukmani Nagar 1st Street has seen significant changes. In 2002, the guideline value was Rs 132 per sq.ft, which increased to Rs 400 per sq.ft in 2003. The value rose to Rs 600 per sq.ft in 2007, and then saw a substantial increase to Rs 2,750 per sq.ft in 2012. However, it decreased to Rs 1,842 per sq.ft in 2017. In 2023, the value was Rs 2,750 per sq.ft, and as of the 2024 revision, it stands at Rs 3,050 per sq.ft.

The changes between revisions highlight the fluctuations in the guideline value. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, the value decreased by 33%. The most notable increase occurred from 2007 to 2012, with a rise of 358%. Overall, from 2002 to 2024, the guideline value has increased by 2,211%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, which is equal to the 2024 guideline value of Rukmani Nagar 1st Street.

Stamp duty and registration fee for property in Rukmani Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, totaling Rs 2,74,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rukmani Nagar 1st Street?

The Sub Registrar Office that covers Rukmani Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Rukmani Nagar 1st Street?

The current guideline value of Rukmani Nagar 1st Street is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 132 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 2,211% over the years.

What is the stamp duty for property in Rukmani Nagar 1st Street?

The stamp duty for property in Rukmani Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,13,500.

Where is the Sub Registrar Office for Rukmani Nagar 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covering Rukmani Nagar 1st Street.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions. It is essential for calculating the stamp duty and registration fees during the buying or selling process in Maduravoyal.