Guideline Value for Rukmani Nagar

Rukmani Nagar guideline value

The current guideline value of Rukmani Nagar in Ernavur village, under the Thiruvottiyur SRO, is Rs 1,800 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 undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This increased significantly to Rs 1,700 per sq.ft in 2012, marking a 580% rise. However, in 2017, the value dropped to Rs 1,139 per sq.ft, a decrease of 33%. The value then increased to Rs 1,700 per sq.ft in 2023, followed by a further rise to Rs 1,800 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the value increased by 49%. Overall, since 2007, the guideline value has risen by 620%, reaching the current figure of Rs 1,800 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Rukmani Nagar's 2024 figure above this median.

• Sakthipuram: Rs 3,800 per sq.ft (2024)
• Sakthipuram Main Road: Rs 3,800 per sq.ft (2024)
• Ramanathapuram Nagar/Street: Rs 1,600 per sq.ft (2024)
• Ramakrishna Nagar/Cross Street/Sathiyamurthy Ngar: Rs 2,400 per sq.ft (2024)
• Rajiv Gandhi Nagar (Corner Plots): Rs 3,300 per sq.ft (2024)
• Rajivgandhi Nagar: 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 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ernavur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the current guideline value to assess the financial implications of their property deals.

When registering a property, the guideline value serves as a benchmark for calculating the applicable taxes and fees. It is essential for both parties to understand this value to ensure compliance with local regulations and avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Rukmani Nagar?

The current guideline value of Rukmani Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 250 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 620% since 2007.

What is the land classification for Rukmani Nagar?

Rukmani Nagar is classified as Residential Special Type - II, which influences its guideline value and usage.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Rukmani Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,62,000.