Guideline Value for Rukmani nagar

Rukmani nagar guideline value

The current guideline value of Rukmani Nagar is Rs 3,250 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village under the Poonamallee SRO, classified as Commercial Class I Type - II.

How the guideline value of Rukmani nagar has changed

The guideline value for Rukmani Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 brought it back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 3,250 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 63%.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Rukmani Nagar's 2024 guideline value is above this median.

• Sabapathi mudaliar street: Rs 2,200 per sq.ft (2024)
• Rosi Garden: Rs 2,200 per sq.ft (2024)
• RKV nagar: Rs 2,200 per sq.ft (2024)
• R.C.M. School Street: Rs 2,200 per sq.ft (2024)
• Sakthi nagar: Rs 3,250 per sq.ft (2024)
• Sakthi nagar (contonment backside): Rs 2,740 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 3,250 per sq.ft, the total guideline value would be Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total cost to Rs 2,92,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rukmani nagar?

The Sub Registrar Office that covers Rukmani Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rukmani Nagar?

The current guideline value of Rukmani Nagar is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 3,250 per sq.ft in 2024, with various revisions in between including a decrease in 2017.

What are the other guideline values in Poonthamallee?

In Poonthamallee, the guideline values range from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft.

What is the stamp duty rate for property in Rukmani Nagar?

The stamp duty rate for property in Rukmani Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rukmani Nagar located?

The Sub Registrar Office for Rukmani Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.