Guideline Value for R.M..G.Nagar

R.M..G.Nagar guideline value

The current guideline value of R.M..G.Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

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

The guideline value of R.M..G.Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The value then rose again to Rs 900 per sq.ft in 2023, an increase of 49%, before reaching the current rate of Rs 990 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 725% from the 2007 revision to the current 2024 figure.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, placing R.M..G.Nagar's 2024 figure above this median.

• R.M.K. Nagar: Rs 990 per sq.ft (2024)
• Sabari Nagar: Rs 880 per sq.ft (2024)
• Ranganathapuram Colony Extn I to III: Rs 880 per sq.ft (2024)
• Ranganathapuram: Rs 880 per sq.ft (2024)
• Sam Leo Muthu Nagar Part - I, II: Rs 1,650 per sq.ft (2024)
• Ramani Iyer Nagar: Rs 440 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. 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 detailed calculations.

Which Sub Registrar Office covers R.M..G.Nagar?

The Sub Registrar Office that covers R.M..G.Nagar is 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 Nandambakkam

The guideline value is a crucial factor in the registration process for property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the actual sale price. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of R.M..G.Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 725% over the years.

What is the stamp duty for property in R.M..G.Nagar?

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

Where is the Sub Registrar Office located for R.M..G.Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is assessed at the Sub Registrar Office to ensure compliance with local regulations.