Guideline Value for R.M. Nagar

R.M. Nagar guideline value

The current guideline value of R.M. Nagar, located in Atanancheri village, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

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

The guideline value for R.M. Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 160 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, this value dropped to Rs 335 per sq.ft in 2017. The latest revisions in 2023 and 2024 have maintained the guideline value at Rs 500 per sq.ft, indicating no change from the previous year.

Between the revisions, the changes are notable: from 2017 to 2023, there was an increase of 49%. The jump from 2007 to 2012 saw a substantial rise of 213%. Overall, from 2007 to 2024, the guideline value has increased by 213%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

Atanancheri village has a range of guideline values across its 83 streets under the Gooduvancheri SRO, with the 2024 figures ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value in the village is Rs 700 per sq.ft, placing R.M. Nagar's 2024 figure below this median.

• Rangaswamy Garden: Rs 1,000 per sq.ft (2024)
• Sagunthalapuram: Rs 700 per sq.ft (2024)
• Ragavendrapuram: Rs 800 per sq.ft (2024)
• Ragavendra Nagar: Rs 800 per sq.ft (2024)
• Senthil Nagar: Rs 800 per sq.ft (2024)
• Senthur Velan Nagar: Rs 1,200 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 500 per sq.ft, the total guideline value is Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, while the registration fee at 2% would be Rs 10,000. Therefore, the total cost for these fees would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Atanancheri. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate their financial obligations.

When a property is sold, 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 government receives the appropriate fees based on the value of the transaction.

Frequently asked questions

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

The current guideline value of R.M. Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017. The value has remained at Rs 500 per sq.ft since 2017, with no change in 2023 and 2024.

What are the guideline values for other streets in Atanancheri?

Other streets in Atanancheri have varying guideline values, with rates ranging from Rs 400 to Rs 2,500 per sq.ft. For example, Rangaswamy Garden has a guideline value of Rs 1,000 per sq.ft in 2024.

What are the stamp duty and registration fees for property in R.M. Nagar?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at Rs 500 per sq.ft, the total fees would amount to Rs 45,000.

Which Sub Registrar Office covers R.M. Nagar?

The Gooduvancheri Sub Registrar Office covers R.M. Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.