Guideline Value for RAMADASS NAGAR

Ramadass Nagar guideline value

The current guideline value of Ramadass Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Iyyappanthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramadass Nagar has changed

The guideline value for Ramadass Nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 1,206 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,800 per sq.ft in 2023, and most recently, it has increased to Rs 1,980 per sq.ft in 2024, reflecting a 10% increase.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Ramadass Nagar below the median.

• Ramachandra Nagar Ist Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar Cross Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 2nd Street 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 2nd Street 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadass Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramadass Nagar?

Ramadass Nagar falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor when registering a property in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, both parties must be aware of the guideline value to ensure compliance with legal requirements. This value helps in the transparent assessment of property transactions and is crucial for the registration process.

Frequently asked questions

What is the current guideline value of Ramadass Nagar?

The current guideline value of Ramadass Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking a significant overall increase of 560%.

What are the stamp duty and registration fees for properties in Ramadass Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Ramadass Nagar?

The Chennai South Joint I Sub Registrar Office covers Ramadass Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

Where does Ramadass Nagar stand compared to other streets in Iyyappanthangal?

Ramadass Nagar's guideline value of Rs 1,980 per sq.ft is below the median value of Rs 2,200 per sq.ft for other streets in Iyyappanthangal, which range from Rs 1,100 to Rs 5,610 per sq.ft.