Guideline Value for Rutland Gate 3rd Street

Rutland Gate 3rd Street guideline value

The current guideline value of Rutland Gate 3rd Street is Rs 10,400 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Rutland Gate 3rd Street has changed

The guideline value for Rutland Gate 3rd Street has seen several revisions over the years. In 2007, the value was Rs 4,200 per sq.ft, which increased significantly to Rs 9,500 per sq.ft in 2012. However, it then dropped to Rs 6,365 per sq.ft in 2017. The value rose again to Rs 9,500 per sq.ft in 2023, and most recently, it has increased to Rs 10,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 148%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Rutland Gate 3rd Street's current value above the median.

• Rutland Gate 2nd Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 4th Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 1st Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 5th Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 6th Street: Rs 10,400 per sq.ft (2024)
• Rangoon Street (Slum Area): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rutland Gate 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 10,400 per sq.ft, the total guideline value would be Rs 1,04,00,000. The stamp duty at 7% would amount to Rs 7,28,000, while the registration fee at 2% would be Rs 2,08,000. Together, the total cost for stamp duty and registration fee would be Rs 9,36,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rutland Gate 3rd Street?

The Sub Registrar Office that covers Rutland Gate 3rd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a critical role during the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs involved in the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Rutland Gate 3rd Street?

The current guideline value of Rutland Gate 3rd Street is Rs 10,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,200 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, reflecting a total increase of 148% over the years.

What is the median guideline value in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, with Rutland Gate 3rd Street's value being above this median.

What are the stamp duty rates applicable in Chennai?

The stamp duty rate applicable in Chennai is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for Rutland Gate 3rd Street located?

The Sub Registrar Office for Rutland Gate 3rd Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.