Guideline Value for Rukmani Nagar

Rukmani Nagar guideline value

The current guideline value of Rukmani Nagar, located in Pallipattu village under the Adayar SRO, is Rs 5,000 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Rukmani Nagar has changed

The guideline value for Rukmani Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 4,500 per sq.ft. This figure changed to Rs 3,015 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 established the current guideline value at Rs 5,000 per sq.ft, which is an increase of 11% from the previous year, 2023.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for Rukmani Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

Guideline values in Pallipattu

Pallipattu village has a total of 72 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 9,400 per sq.ft. Rukmani Nagar's 2024 guideline value of Rs 5,000 per sq.ft is below this median.

• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Polytechnic Road: Rs 3,900 per sq.ft (2024)
• Polytechnic Main Road: Rs 3,900 per sq.ft (2024)
• Polytechnic 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil 3rd Cross Street: Rs 3,300 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 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty, charged at 7%, would amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000. Together, these fees would total Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rukmani Nagar?

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

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

The guideline value is a crucial factor when buying or selling property in Pallipattu, as it is used to determine the amount of stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used to calculate the applicable fees.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. This value is periodically revised to reflect changes in the market and local conditions, ensuring that it remains relevant for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Rukmani Nagar?

The current guideline value of Rukmani Nagar is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification of Rukmani Nagar?

Rukmani Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for Rukmani Nagar?

The Sub Registrar Office for Rukmani Nagar is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated in Rukmani Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at a rate of 7%.