Guideline Value for Rukmani ammal Street

Rukmani ammal Street guideline value

The current guideline value of Rukmani ammal Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rukmani ammal Street has changed

Over the years, the guideline value of Rukmani ammal Street has seen several revisions. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 1,340 per sq.ft. The value then rose to Rs 2,000 per sq.ft in the 2023 revision, and most recently, it has been revised to Rs 2,160 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

In summary, the changes between the revisions show a considerable increase. From 2007 to 2012, the value increased by 400%, but then it decreased by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 8%. Overall, from 2007 to 2024, the guideline value has increased by 440%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Rukmani ammal Street's 2024 figure below that median.

• Sabari street: Rs 3,300 per sq.ft (2024)
• Sai Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street: Rs 1,980 per sq.ft (2024)
• Sakthi Nagar Varasithi Vinayagar Street: Rs 1,980 per sq.ft (2024)
• Ranga Nagar Ymca Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Rukmani ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration fee would be Rs 1,94,400. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rukmani ammal Street?

The Sub Registrar Office that covers Rukmani ammal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Kilkattalai

The guideline value is an essential factor when buying or selling property in Kilkattalai. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers must be aware that the guideline value serves as a benchmark for property transactions, ensuring that the government receives the appropriate taxes based on the property's assessed value.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the government collects taxes based on the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rukmani ammal Street?

The current guideline value of Rukmani ammal Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 400 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 440% over the years.

What is the median guideline value for streets in Kilkattalai?

The median guideline value for streets in Kilkattalai is Rs 2,530 per sq.ft, which is higher than the current value of Rukmani ammal Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would amount to Rs 1,94,400.

Where is the Sub Registrar Office for Rukmani ammal Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.