Guideline Value for Rukmani Street

Rukmani Street guideline value

The current guideline value of Rukmani Street, located in Ramapuram village, is Rs 3,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Rukmani Street has changed

The guideline value for Rukmani Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,800 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 reflects an increase of 11% in the guideline value per sq.ft.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which aligns with the 2024 figure for Rukmani Street.

• Rukmani Nagar: Rs 3,100 per sq.ft (2024)
• Rukmani Lane: Rs 3,100 per sq.ft (2024)
• Royala Nagar Other Cross Streets: Rs 4,400 per sq.ft (2024)
• Royala Nagar Lane: Rs 4,400 per sq.ft (2024)
• Royala Nagar Annexe: Rs 4,400 per sq.ft (2024)
• Royala Nagar 3rd Main Road: Rs 4,400 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 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rukmani Street?

The current guideline value of Rukmani Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What are the other streets in Ramapuram with similar guideline values?

Other streets in Ramapuram with a guideline value of Rs 3,100 per sq.ft in 2024 include Rukmani Nagar and Rukmani Lane.

What is the registration fee for properties on Rukmani Street?

The registration fee for properties is 2% of the guideline value. For a property valued at Rs 31,00,000, the registration fee would be Rs 62,000.

Where can I find more information about the Sub Registrar Office?

The Sub Registrar Office for Rukmani Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details by visiting the provided link.