Guideline Value for RAMACHARI GARDEN

Ramachari Garden guideline value

The current guideline value of Ramachari Garden is Rs 1,000 per sq.ft. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class V Type - II.

How the guideline value of Ramachari Garden has changed

The guideline value for Ramachari Garden has seen several revisions over the years. In 2012, the guideline value was set at Rs 750 per sq.ft, which decreased to Rs 502 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a rise of 99%. The 2024 revision has maintained this value at Rs 1,000 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Ramachari Garden. Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 33% in the guideline value.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Ramachari Garden is below this median.

• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajeswari Garden: Rs 3,300 per sq.ft (2024)
• Ramanujam Garden: Rs 1,700 per sq.ft (2024)
• Rajendran Garen - I: Rs 3,300 per sq.ft (2024)
• Rajendran Garden II: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 information.

Which Sub Registrar Office covers Ramachari Garden?

The Sub Registrar Office that covers Ramachari Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

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

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and fairness in property dealings, as both buyers and sellers are aware of the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Ramachari Garden?

The current guideline value of Ramachari Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Ramachari Garden?

Ramachari Garden is classified as Residential Class V Type - II.

Where can I find the Sub Registrar Office for Ramachari Garden?

The Sub Registrar Office for Ramachari Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated on property in Ramachari Garden?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.