Guideline Value for R.M. NAGAR PHASE I

R.M. Nagar Phase I guideline value

The current guideline value of R.M. Nagar Phase I is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Asthinapuram village and falls under the Thiruporur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of R.M. Nagar Phase I has changed

The guideline value for R.M. Nagar Phase I has undergone several revisions over the years. The 2017 revision set the value at Rs 402 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 600 per sq.ft. The current 2024 revision has maintained this value, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase is also 49%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Asthinapuram

In Asthinapuram, there are 32 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 600 to Rs 3,300 per sq.ft, with a median value of Rs 1,614 per sq.ft. R.M. Nagar Phase I's 2024 figure is below this median.

• Rr Platinum City: Rs 1,200 per sq.ft (2024)
• Serasa Land Mark Phase I: Rs 2,687 per sq.ft (2024)
• Serasa Land Mark Phase II: Rs 2,687 per sq.ft (2024)
• Sm Kbs Uptown: Rs 1,614 per sq.ft (2024)
• Sri Sks Sai Nagar: Rs 2,000 per sq.ft (2024)
• Srs Avenue: Rs 1,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.M. Nagar Phase I?

The Sub Registrar Office that covers R.M. Nagar Phase I is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Asthinapuram. It serves as a reference for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation set by the Registration Department.

Frequently asked questions

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

The current guideline value of R.M. Nagar Phase I is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification for R.M. Nagar Phase I?

The land classification for R.M. Nagar Phase I is Residential Special Type - I.

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

The Sub Registrar Office for R.M. Nagar Phase I is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What is the stamp duty for a property in R.M. Nagar Phase I?

The stamp duty for a property in R.M. Nagar Phase I is 7% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 6,00,000, the stamp duty would be Rs 42,000.