Guideline Value for Rutland Gate 4th Street

Rutland Gate 4th Street guideline value

The current guideline value of Rutland Gate 4th Street is Rs 10,400 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO, classified as Commercial Class I Type - I.

How the guideline value of Rutland Gate 4th Street has changed

The guideline value for Rutland Gate 4th Street has seen significant changes over the years. In the 2007 revision, the value was Rs 4,200 per sq.ft, which increased to Rs 9,500 per sq.ft in the 2012 revision. However, from 2012 to 2017, there was a decrease to Rs 6,365 per sq.ft. The value then rose sharply to Rs 9,500 per sq.ft in the 2023 revision, and the latest revision in 2024 has set the value at Rs 10,400 per sq.ft. The overall change from 2007 to 2024 is an increase of 148%.

Between the revisions, the guideline value changed as follows: from 2012 to 2017, it decreased by 33%, while the jump from 2017 to 2023 was an increase of 49%. The latest revision from 2023 to 2024 reflects a 9% increase.

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 4th Street above this median.

• Rutland Gate 3rd Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 5th Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 2nd Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 6th Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 1st 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 4th 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, and the registration fee at 2% would be Rs 2,08,000, totaling Rs 9,36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rutland Gate 4th Street?

The Sub Registrar Office covering Rutland Gate 4th 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 details.

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

The guideline value is a critical factor in property transactions in Nungambakkam. It serves as the basis for calculating stamp duty and registration fees when registering a property sale. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, and it also provides transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Rutland Gate 4th Street?

The current guideline value of Rutland Gate 4th 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 significantly from Rs 4,200 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, reflecting an overall increase of 148%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,04,00,000, the stamp duty would be Rs 7,28,000, and the registration fee would be Rs 2,08,000, totaling Rs 9,36,000.

Which office handles property registrations for Rutland Gate 4th Street?

The Chennai Central Joint II Sub Registrar Office handles property registrations for Rutland Gate 4th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Rutland Gate 4th Street?

Rutland Gate 4th Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.