Guideline Value for R.G.M Nagar

R.G.M Nagar guideline value

The current guideline value of R.G.M Nagar, located in Tharapakkam village under the Pammal SRO, is Rs 1,100 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

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

The guideline value of R.G.M Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making R.G.M Nagar's 2024 figure equal to this median.

• Raja Koil Street (ward 9): Rs 1,100 per sq.ft (2024)
• Raja Koil Street (Ward 6): Rs 1,100 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,100 per sq.ft (2024)
• Shobanam Enclave: Rs 1,100 per sq.ft (2024)
• Shobanam Nagar: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.G.M Nagar?

The Sub Registrar Office that covers R.G.M Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tharapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered, as it can impact the overall cost involved in the transaction. Buyers should be aware that the fees are calculated based on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of R.G.M Nagar is Rs 1,100 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, which is a total increase of 64% over the years.

What is the stamp duty rate for property in R.G.M Nagar?

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

Where can I find the Sub Registrar Office for R.G.M Nagar?

The Sub Registrar Office for R.G.M Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Tharapakkam?

The guideline value for properties in Tharapakkam is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values.