Guideline Value for Sam Avenue Rukmani Street

Sam Avenue Rukmani Street guideline value

The current guideline value of Sam Avenue Rukmani Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sam Avenue Rukmani Street has changed

The guideline value has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a 620% rise. However, the value then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. Following that, the value saw a substantial increase to Rs 1,800 per sq.ft in 2023, and finally, it has risen to Rs 1,900 per sq.ft in 2024, which is a 6% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 660%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and the guideline value for Sam Avenue Rukmani Street is below this median.

• Sam Avenue Part 1 (Pugazhendi Street): Rs 1,900 per sq.ft (2024)
• Sam Avenue Main Road: Rs 1,900 per sq.ft (2024)
• Sam Avenue Kaveri Street: Rs 1,900 per sq.ft (2024)
• Sam Avenue: Rs 1,900 per sq.ft (2024)
• Samraj Nagar: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sam Avenue Rukmani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sam Avenue Rukmani Street?

The Sub Registrar Office that covers Sam Avenue Rukmani Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the cost of registration. Understanding this value can help in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Sam Avenue Rukmani Street?

The current guideline value of Sam Avenue Rukmani Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 250 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting a total increase of 660% over this period.

What is the median guideline value in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, with Sam Avenue Rukmani Street's value being below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a plot valued at Rs 19,00,000, the total fees would be Rs 1,71,000.

Which office handles property registrations for Sam Avenue Rukmani Street?

The Selaiyur Sub Registrar Office handles property registrations for Sam Avenue Rukmani Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.