Guideline Value for RAMACHANDRA NAGAR

Ramachandra Nagar guideline value

The current guideline value of Ramachandra Nagar is Rs 775 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO and is classified as Residential Special Type - II.

How the guideline value of Ramachandra Nagar has changed

The guideline value for Ramachandra Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and finally rose to Rs 775 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Ramachandra Nagar is below this median.

• RANGACHARI STREET (a) RANGAN STREET: Rs 1,110 per sq.ft (2024)
• Ranga Nagar: Rs 1,100 per sq.ft (2024)
• RANGASAMY NAIKAR (a) KANNAKKAR STREET: Rs 1,110 per sq.ft (2024)
• Rajagopal Mudali Street: Rs 1,110 per sq.ft (2024)
• Rayam Ramanujam Iyyengar Street: Rs 1,110 per sq.ft (2024)
• Renga Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 775 per sq.ft, the guideline value amounts to Rs 7,75,000. The stamp duty at 7% would be Rs 54,250, and the registration fee at 2% would be Rs 15,500, bringing the total to Rs 69,750. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramachandra Nagar?

The Sub Registrar Office covering Ramachandra Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a basis for calculating stamp duty and registration fees when buying or selling property in Mathuranthagam. It is essential to know that the guideline value may differ from the actual sale price, and the higher value will be used for calculating applicable fees.

When a buyer registers a property, the guideline value ensures that the transaction is recorded accurately in the government records. This helps in maintaining transparency and standardization in property transactions across the region.

Frequently asked questions

What is the current guideline value of Ramachandra Nagar?

The current guideline value of Ramachandra Nagar is Rs 775 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, from Rs 700 in 2012 to Rs 469 in 2017, then increasing to Rs 700 in 2023, and finally reaching Rs 775 in 2024.

What is the land classification of Ramachandra Nagar?

Ramachandra Nagar is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Ramachandra Nagar?

The Sub Registrar Office for Ramachandra Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Ramachandra Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,75,000, the stamp duty at 7% would be Rs 54,250.