Guideline Value for RAMALINGA NAGAR 2nd STREET

RAMALINGA NAGAR 2nd STREET guideline value

The current guideline value of RAMALINGA NAGAR 2nd STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the jurisdiction of the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of RAMALINGA NAGAR 2nd STREET has changed

The guideline value for RAMALINGA NAGAR 2nd STREET has seen significant changes over the years. The earliest recorded figure is from 2003, where it was Rs 174 per sq.ft. This increased to Rs 750 per sq.ft in 2007, marking a substantial rise of 331%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a remarkable increase of 233%. However, it then dropped to Rs 1,675 per sq.ft in 2017, which was a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft from the 2024 revision, representing a 12% increase from the previous year.

It is important to note that there is no recorded guideline value for RAMALINGA NAGAR 2nd STREET in the year 2002. Overall, from 2003 to 2024, the guideline value has increased by an impressive 1509%, showcasing the fluctuations in property values over the years.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing RAMALINGA NAGAR 2nd STREET above this median at Rs 2,800 per sq.ft.

• RAMALINGA NAGAR 3rd STREET: Rs 2,800 per sq.ft (2024)
• RAMALINGA NAGAR 4th STREET: Rs 2,800 per sq.ft (2024)
• RAMALINGA NAGAR 1st STREET: Rs 2,800 per sq.ft (2024)
• RAMALINGA NAGAR(Main Road): Rs 2,800 per sq.ft (2024)
• Rajiv Avenue: Rs 4,500 per sq.ft (2024)
• Rajendra Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in RAMALINGA NAGAR 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers RAMALINGA NAGAR 2nd STREET?

The Sub Registrar Office that covers RAMALINGA NAGAR 2nd STREET 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 more details.

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

The guideline value is an essential factor in property transactions in Enjambakkam, as it determines the minimum value for which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is crucial for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost involved in the registration process. Understanding these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of RAMALINGA NAGAR 2nd STREET?

The current guideline value of RAMALINGA NAGAR 2nd STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 174 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 1509%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations in RAMALINGA NAGAR 2nd STREET?

The Neelankarai Sub Registrar Office handles property registrations for RAMALINGA NAGAR 2nd STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for RAMALINGA NAGAR 2nd STREET?

The land classification for RAMALINGA NAGAR 2nd STREET is Residential Class II Type - I.