Guideline Value for RAMAIAH NAGAR

Ramaiah Nagar guideline value

The current guideline value of Ramaiah Nagar, located in Thundalkazhani village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Ramaiah Nagar has changed

In the 2017 revision, the guideline value for Ramaiah Nagar was Rs 500 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 550 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

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 value for these streets is Rs 770 per sq.ft, placing Ramaiah Nagar's 2024 figure below that median.

• Ramaiah Nagar Extension: Rs 2,500 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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that 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 Ramaiah Nagar?

The Sub Registrar Office that covers Ramaiah Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thundalkazhani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramaiah Nagar?

The current guideline value of Ramaiah Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 500 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, reflecting a 10% rise. There was no change in the value between 2017 and 2023.

What are the guideline values for other streets in Thundalkazhani?

Other streets in Thundalkazhani have varying guideline values, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft.

What fees are involved in property registration in Ramaiah Nagar?

When registering property in Ramaiah Nagar, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%. For example, a 1,000 sq.ft plot would incur total fees of Rs 49,500.

Where is the Sub Registrar Office for Ramaiah Nagar located?

The Sub Registrar Office for Ramaiah Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai. This office handles all registration activities for the area.