Guideline Value for K.R.RAMASAMI NAGAR

K.R.Ramasami Nagar guideline value

The current guideline value of K.R.Ramasami Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Special Type - III.

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

The guideline value for K.R.Ramasami Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft, which significantly increased to Rs 2,600 per sq.ft in the 2012 revision, marking a rise of 420%. However, the value decreased to Rs 1,742 per sq.ft in the 2017 revision, reflecting a decline of 33%. The 2023 revision then raised the value to Rs 2,600 per sq.ft, an increase of 49%, followed by the current revision in 2024, which set the value at Rs 2,800 per sq.ft, an 8% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 460%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of K.R.Ramasami Nagar is below this median.

• K.R. Ramanujam Nagar: Rs 3,300 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.Ramasami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making a total of Rs 2,52,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers K.R.Ramasami Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value plays a crucial role 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 duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legalizing the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

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

The current guideline value of K.R.Ramasami Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 2,600 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, which is an 8% increase.

What was the guideline value in 2017?

In 2017, the guideline value for K.R.Ramasami Nagar was Rs 1,742 per sq.ft.

Which Sub Registrar Office should I visit for transactions in K.R.Ramasami Nagar?

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

How is the stamp duty calculated for property in K.R.Ramasami Nagar?

Stamp duty for property in K.R.Ramasami Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.