Guideline Value for K.R. RAMANUJAM NAGAR

K.R. Ramanujam Nagar guideline value

The current guideline value of K.R. Ramanujam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of K.R. Ramanujam Nagar has changed

The guideline value for K.R. Ramanujam Nagar has undergone several revisions over the years. In 2002, the value was Rs 308 per sq.ft, which increased to Rs 363 per sq.ft in 2003. Following that, the value rose significantly to Rs 600 per sq.ft in 2007, and then it experienced a substantial jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017, before climbing back to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 971%. The revisions for the years 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 400%. The guideline value has shown significant changes, reflecting the evolving landscape of K.R. Ramanujam Nagar.

Guideline values in Thiruvottiyur

K.R. Ramanujam Nagar's 2024 guideline value is equal to the median value of Rs 3,300 per sq.ft among the 177 streets in Thiruvottiyur under the Thiruvottiyur SRO, which range from Rs 1,300 to Rs 8,600 per sq.ft.

• K.R.Ramasami Nagar: Rs 2,800 per sq.ft (2024)
• Kg Shree Prem Vihar: Rs 4,500 per sq.ft (2024)
• Lakshmi Puram: Rs 2,150 per sq.ft (2024)
• Kavari Nagar: Rs 3,300 per sq.ft (2024)
• Kattuponniamman Nagar(Ponniamman Nagar): Rs 1,500 per sq.ft (2024)
• Karunikar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in K.R. Ramanujam Nagar

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

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers K.R. Ramanujam Nagar?

The K.R. Ramanujam Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction value. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price; otherwise, it is based on the guideline value.

Frequently asked questions

What is the current guideline value of K.R. Ramanujam Nagar?

The current guideline value of K.R. Ramanujam Nagar 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 several times, starting from Rs 308 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 971% over this period.

What are the stamp duty and registration fees for property in K.R. Ramanujam Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers K.R. Ramanujam Nagar?

The Thiruvottiyur Sub Registrar Office covers K.R. Ramanujam Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for K.R. Ramanujam Nagar?

K.R. Ramanujam Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.