Guideline Value for Rutland Gate 5th Street

Rutland Gate 5th Street guideline value

The current guideline value of Rutland Gate 5th 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 5th Street has changed

The guideline value for Rutland Gate 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 5,925 per sq.ft. This value increased to Rs 9,500 per sq.ft in 2012, then decreased to Rs 6,365 per sq.ft in 2017. From 2017 to 2023, the value rose significantly to Rs 9,500 per sq.ft, and the latest revision in 2024 set it at Rs 10,400 per sq.ft, marking a 9% increase from the previous year.

In summary, the guideline value has increased from Rs 5,925 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, representing an overall increase of 76%. It is important to note that the register has no figures for Rutland Gate 5th Street for the years 2002 and 2003.

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 is Rs 8,800 per sq.ft, making the 2024 guideline value for Rutland Gate 5th Street above this median.

• Rutland Gate 4th Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 6th Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 3rd Street: Rs 10,400 per sq.ft (2024)
• Rutland Gate 2nd 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 5th 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 be Rs 7,28,000, and the registration fee at 2% would be Rs 2,08,000, totaling Rs 9,36,000. 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 more details.

Which Sub Registrar Office covers Rutland Gate 5th Street?

The Sub Registrar Office covering Rutland Gate 5th 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 is a crucial factor in the registration of property transactions in Nungambakkam. It determines the minimum value for which properties can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per government standards. This helps in maintaining transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rutland Gate 5th Street?

The current guideline value of Rutland Gate 5th 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 5,925 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, with significant increases noted in 2023 and 2024.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, with Rutland Gate 5th Street's 2024 value above this median.

What are the stamp duty and registration fees for properties in Rutland Gate 5th Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would be Rs 9,36,000, based on a guideline value of Rs 1,04,00,000.

Which office handles property registrations for Rutland Gate 5th Street?

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