Guideline Value for RAMALAKSHMI NAGAR

Ramalakshmi Nagar guideline value

The current guideline value of Ramalakshmi Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Ramalakshmi Nagar has changed

Over the years, the guideline value of Ramalakshmi Nagar has seen significant changes. The 2007 revision set the value at Rs 50 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this was followed by a decrease to Rs 402 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,002 per sq.ft in 2024. It is important to note that the register has no figure for this street in the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 149%. The jump from 2007 to 2012 was a remarkable 1,100%, while the overall increase from 2007 to 2024 stands at 1,904%. The changes reflect the evolving landscape of property values in the area.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with a median value of Rs 1,002 per sq.ft. The guideline value of Ramalakshmi Nagar is equal to this median. Below are the guideline values for other streets in Sadayankuppam:

• Revathi Nagar: Rs 1,000 per sq.ft (2024)
• R.K. Nagar: Rs 1,002 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Pancavarnam Street: Rs 1,001 per sq.ft (2024)
• Nethaji Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Ramalakshmi Nagar?

The Sub Registrar Office that covers Ramalakshmi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sadayankuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a buyer or seller approaches the registration office, the guideline value will influence the stamp duty and registration fees applicable to the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramalakshmi Nagar?

The current guideline value of Ramalakshmi Nagar is Rs 1,002 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 50 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of 1,904% from 2007 to 2024.

What is the median guideline value in Sadayankuppam?

The median guideline value in Sadayankuppam for 2024 is Rs 1,002 per sq.ft, which is the same as the guideline value for Ramalakshmi Nagar.

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

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 and the registration fee would be Rs 20,040, totaling Rs 90,180. These fees are based on the guideline value or the sale price, whichever is higher.

Which office should I approach for registration in Ramalakshmi Nagar?

You should approach the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019 for registration of properties in Ramalakshmi Nagar.