Guideline Value for BHARATHI NAGAR - Ramadass Street

BHARATHI NAGAR - Ramadass Street guideline value

The current guideline value for BHARATHI NAGAR - Ramadass Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of BHARATHI NAGAR - Ramadass Street has changed

The guideline value for BHARATHI NAGAR - Ramadass Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 3,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. The overall change from 2012 to 2024 reflects a 10% increase.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, while it fell by 33% from 2012 to 2017. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which matches the guideline value for BHARATHI NAGAR - Ramadass Street.

• BHARATHI NAGAR - Ramadass 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 1st Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Rajaji Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Quaide millath Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Quaide millath Annexe: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Thirumurugan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR - Ramadass Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would amount to Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR - Ramadass Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Ramadass Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR - Ramadass Street?

The current guideline value of BHARATHI NAGAR - Ramadass Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, an increase of 10%. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of BHARATHI NAGAR - Ramadass Street?

BHARATHI NAGAR - Ramadass Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers BHARATHI NAGAR - Ramadass Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.