Guideline Value for Rukmani Nagar

Rukmani Nagar guideline value

The current guideline value of Rukmani Nagar, located in Perumbakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Rukmani Nagar has changed

The guideline value for Rukmani Nagar has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%, highlighting the fluctuations in property values over the years.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value of Rukmani Nagar is above this median, indicating a relatively higher valuation compared to other streets in the area.

• Rukmani Nagar 1st to 4th street: Rs 3,300 per sq.ft (2024)
• R.M.Veerappan 1st to 4th Cross street: Rs 3,300 per sq.ft (2024)
• Rathnam Nagar: Rs 3,300 per sq.ft (2024)
• Ram Nagar: Rs 3,300 per sq.ft (2024)
• Ram Garden: Rs 3,300 per sq.ft (2024)
• Ramaniyam Ram Enclave: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rukmani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rukmani Nagar?

The Sub Registrar Office that covers Rukmani Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Rukmani Nagar?

The current guideline value of Rukmani Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,000 per sq.ft in 2012, dropping to Rs 2,010 per sq.ft in 2017, then rising to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in 2024.

What is the land classification of Rukmani Nagar?

Rukmani Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes within the area.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated in Rukmani Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,31,000 at 7%.