Guideline Value for RAMAIAH NAGAR EXTENSION

Ramaiah Nagar Extension guideline value

The current guideline value of Ramaiah Nagar Extension in Thundalkazhani village is Rs 2,500 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Special Type - IV.

How the guideline value of Ramaiah Nagar Extension has changed

The guideline value register for Ramaiah Nagar Extension has undergone several revisions. As per the records, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, which remained unchanged in the 2024 revision, also at Rs 2,500 per sq.ft, reflecting a change of +0% between these two years.

Thus, the most recent guideline value for Ramaiah Nagar Extension is Rs 2,500 per sq.ft as per the 2024 revision. This value is consistent with the previous year's figure, indicating stability in the guideline value for this street.

Guideline values in Thundalkazhani

In Thundalkazhani, there are 10 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Ramaiah Nagar Extension above this median.

• Ramaiah Nagar: Rs 550 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 440 per sq.ft (2024)
• Sudhagar Nagar: Rs 770 per sq.ft (2024)
• M.R.T.Nagar: Rs 660 per sq.ft (2024)
• Manimangalam Road: Rs 770 per sq.ft (2024)
• Maha Lakshmi Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaiah Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, resulting in a total of Rs 2,25,000. 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 detailed calculations.

Which Sub Registrar Office covers Ramaiah Nagar Extension?

The Ramaiah Nagar Extension falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thundalkazhani. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buying or selling property in this area, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramaiah Nagar Extension?

The current guideline value of Ramaiah Nagar Extension is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ramaiah Nagar Extension has remained at Rs 2,500 per sq.ft in both the 2023 and 2024 revisions, with no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Ramaiah Nagar Extension?

The land in Ramaiah Nagar Extension is classified as Residential Special Type - IV, indicating its suitability for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Ramaiah Nagar Extension is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Padappai Sub Registrar Office, which covers Ramaiah Nagar Extension, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.