Guideline Value for R.M.P. NAGAR

R.M.P. Nagar guideline value

The current guideline value of R.M.P. Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Moonramkattalai village and falls under the Kunrathur SRO. The land classification for this street is Residential Class II Type - II.

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

Over the years, the guideline value of R.M.P. Nagar has seen significant changes. The 2017 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 1,642 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision has further increased the value to Rs 1,800 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft. The median value for these streets is Rs 650 per sq.ft, making R.M.P. Nagar's 2024 figure of Rs 1,800 per sq.ft significantly above that median.

• Road Street: Rs 1,000 per sq.ft (2024)
• Ramamoorthy Avenue: Rs 2,750 per sq.ft (2024)
• Pooja Avenue Annex: Rs 2,750 per sq.ft (2024)
• Poniyamman Koil Street/santhu: Rs 650 per sq.ft (2024)
• Poniyamman Koil Street: Rs 650 per sq.ft (2024)
• Sivan Koil Street: Rs 650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers R.M.P. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Moonramkattalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official value set by the Registration Department.

Frequently asked questions

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

The current guideline value of R.M.P. Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,100 per sq.ft in 2017 to Rs 1,642 per sq.ft in 2023, and further to Rs 1,800 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for R.M.P. Nagar?

The land classification for R.M.P. Nagar is Residential Class II Type - II, indicating its designation for residential use.

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

For a property valued at Rs 18,00,000, the stamp duty would be Rs 1,26,000 and the registration fee would be Rs 36,000, totaling Rs 1,62,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations for R.M.P. Nagar.