Guideline Value for R.M. NAGAR

R.M. Nagar guideline value

The current guideline value of R.M. Nagar is Rs 900 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class II Type - II.

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

The guideline value for R.M. Nagar has seen significant changes over the years. The earliest recorded figure is from the 2017 revision, which was Rs 550 per sq.ft. This value increased to Rs 821 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 900 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, placing R.M. Nagar's 2024 figure above this median.

• Ranganatha Nagar: Rs 830 per sq.ft (2024)
• Saraswathi Avenue: Rs 1,480 per sq.ft (2024)
• Rajeswari Nagar: Rs 1,320 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 660 per sq.ft (2024)
• Radiance Smartville: Rs 2,470 per sq.ft (2024)
• Radha Nagar: Rs 1,320 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 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, totaling Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers R.M. Nagar?

The R.M. Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of R.M. Nagar is Rs 900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 550 per sq.ft to Rs 900 per sq.ft in 2024, marking an overall increase of 64%.

What is the median guideline value in Padappai?

The median guideline value in Padappai is Rs 830 per sq.ft, with R.M. Nagar's 2024 value being above this median.

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

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

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.