Guideline Value for Rukmani Street

Rukmani Street guideline value

The current guideline value of Rukmani Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rukmani Street has changed

Rukmani Street has experienced several revisions in its guideline value over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 2,900 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a 107% rise. However, it saw a decrease to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 6,000 per sq.ft in 2023, and subsequently to Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Rukmani Street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 128%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, positioning Rukmani Street's 2024 figure above this median.

• R.V. Nagar 1st to 80th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 65th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 66th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 67th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 68th Street: Rs 4,900 per sq.ft (2024)
• R.V. Nagar 69A Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rukmani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. 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 Street?

The Sub Registrar Office that covers Rukmani Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value is often used as a benchmark for property transactions.

When registering a property, the buyer will need to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rukmani Street?

The current guideline value of Rukmani Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 2,900 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 128%.

What are the stamp duty and registration fees for properties on Rukmani Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Rukmani Street?

The Ashok Nagar Sub Registrar Office is responsible for Rukmani Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Rukmani Street's current value being above this median.