Guideline Value for R.M. NAGAR

R.M. Nagar guideline value

The current guideline value of R.M. Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Vichoor village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

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

In the 2007 revision, the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, the value dropped to Rs 201 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision saw a notable increase to Rs 300 per sq.ft, and the current 2024 revision has further raised it to Rs 330 per sq.ft, a change of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. R.M. Nagar's 2024 figure is below this median.

• Sastha Nagar: Rs 330 per sq.ft (2024)
• Selvam Avenu: Rs 330 per sq.ft (2024)
• Sidco Nagar: Rs 550 per sq.ft (2024)
• Ponneri High Road: Rs 550 per sq.ft (2024)
• Sivakumar Nagar: Rs 485 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, while the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers R.M. Nagar?

The Sub Registrar Office covering R.M. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Vichoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

Frequently asked questions

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

The current guideline value of R.M. Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, representing an overall increase of 230% over the years.

What are the other streets in Vichoor with their guideline values?

Other streets in Vichoor include Sastha Nagar and Selvam Avenu, both at Rs 330 per sq.ft, Sidco Nagar and Ponneri High Road at Rs 550 per sq.ft, and Sivakumar Nagar and Sri Devi Nagar at Rs 485 per sq.ft.

What fees are associated with property transactions in R.M. Nagar?

For property transactions in R.M. Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.