Guideline Value for R. R. NAGAR

R. R. Nagar guideline value

The current guideline value of R. R. Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is part of Melavalam village and falls under the Madurandakam SRO, classified as Residential Special Type - II.

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

The guideline value for R. R. Nagar has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which remained unchanged until 2012 when it increased to Rs 100 per sq.ft. The next revision in 2017 saw a significant increase to Rs 67 per sq.ft, followed by a substantial jump to Rs 200 per sq.ft in both the 2023 and 2024 revisions, reflecting a 199% increase from 2017 to 2023. Notably, the 2023 to 2024 revision showed no change, maintaining the value at Rs 200 per sq.ft.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 100%.

Guideline values in Melavalam

In Melavalam village, there are 20 streets under the Madurandakam SRO that have a guideline value for 2024 ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 350 per sq.ft. R. R. Nagar's 2024 guideline value is below this median.

• Ramya Reng & Ramya Ramaa: Rs 200 per sq.ft (2024)
• Saranya Nagar: Rs 250 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• M.S.K. Nagar: Rs 200 per sq.ft (2024)
• Vb Nagar: Rs 200 per sq.ft (2024)
• Venkatesan Nagar: Rs 400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total cost of Rs 18,000. It is essential to note that the 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 more detailed calculations.

Which Sub Registrar Office covers R. R. Nagar?

R. R. Nagar is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Melavalam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring a standardized approach to property transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. This value is essential for legal documentation and compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of R. R. Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 200 per sq.ft in both 2023 and 2024, a significant increase from Rs 67 per sq.ft in 2017.

What is the registration office for R. R. Nagar?

The registration office for R. R. Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty rates for property in R. R. Nagar?

The stamp duty for property in R. R. Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

What other streets are in Melavalam?

Other streets in Melavalam include Ramya Reng & Ramya Ramaa, Saranya Nagar, Sri Mari Amman Nagar, M.S.K. Nagar, Vb Nagar, and Venkatesan Nagar, with varying guideline values for 2024.