Guideline Value for R.M. NAGAR

R.M. Nagar guideline value

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

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

The guideline value for R.M. Nagar has undergone several revisions over the years. The earliest recorded figure is from 2017, which was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has seen a substantial increase of 64%. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value for these streets is Rs 485 per sq.ft, placing R.M. Nagar's 2024 figure below that 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 amounts to Rs 3,30,000. The stamp duty, calculated at 7%, would be Rs 23,100, while the registration fee at 2% would be Rs 6,600. Together, the total cost for stamp duty and registration fees would be Rs 29,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.M. Nagar?

The Sub Registrar Office that covers 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 details.

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

The guideline value is a crucial factor in property transactions in Vichoor_B, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally, reflecting the property's value as determined by the government.

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 increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

Other streets in Vichoor_B include Sastha Nagar and Selvam Avenu 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 for 2024.

How is stamp duty calculated for properties in R.M. Nagar?

Stamp duty for properties in R.M. Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 23,100 based on the current guideline value.

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

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