Guideline Value for ENGINEER RAMASAMY NAGAR

Engineer Ramasamy Nagar guideline value

The current guideline value of Engineer Ramasamy Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pothur village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Engineer Ramasamy Nagar has changed

The guideline value for Engineer Ramasamy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has raised it to Rs 550 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pothur

In Pothur village, there are 98 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, making the guideline value of Engineer Ramasamy Nagar equal to this median.

• Eswaran Nagar: Rs 550 per sq.ft (2024)
• Ganapathi Nagar Extension I & II: Rs 550 per sq.ft (2024)
• Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Ganapathy Nagar Extention: Rs 550 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 550 per sq.ft (2024)
• Deepam Lake View Garden: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Engineer Ramasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Engineer Ramasamy Nagar?

The Sub Registrar Office that covers Engineer Ramasamy Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pothur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standard valuation.

During registration, buyers and sellers must adhere to the guideline value set by the government, which helps maintain transparency and fairness in property transactions. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Engineer Ramasamy Nagar?

The current guideline value of Engineer Ramasamy Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the stamp duty rate in Engineer Ramasamy Nagar?

The stamp duty rate in Engineer Ramasamy Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Engineer Ramasamy Nagar located?

The Sub Registrar Office for Engineer Ramasamy Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Pothur?

The median guideline value in Pothur is Rs 550 per sq.ft, which is the same as the current guideline value for Engineer Ramasamy Nagar.