Guideline Value for RAMALINGA NAGAR 3rd STREET

RAMALINGA NAGAR 3rd STREET guideline value

The current guideline value of RAMALINGA NAGAR 3rd STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of RAMALINGA NAGAR 3rd STREET has changed

The guideline value for RAMALINGA NAGAR 3rd STREET has seen significant changes over the years. Starting from Rs 174 per sq.ft in 2003, it increased to Rs 750 per sq.ft in 2007, marking a substantial rise of 331%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 233% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,800 per sq.ft in 2024, which is a 12% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1509%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for RAMALINGA NAGAR 3rd STREET is above this median.

• RAMALINGA NAGAR 2nd 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 3rd STREET

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

Which Sub Registrar Office covers RAMALINGA NAGAR 3rd STREET?

The RAMALINGA NAGAR 3rd STREET falls under 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 information.

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

The guideline value is a critical factor when registering property transactions in Enjambakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official value of the property for legal purposes. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of RAMALINGA NAGAR 3rd STREET?

The current guideline value of RAMALINGA NAGAR 3rd 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 from Rs 174 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1509% over the years.

What is the land classification for RAMALINGA NAGAR 3rd STREET?

RAMALINGA NAGAR 3rd STREET is classified as Residential Class II Type - I.

Which office handles registrations for RAMALINGA NAGAR 3rd STREET?

The Neelankarai Sub Registrar Office handles registrations for RAMALINGA NAGAR 3rd STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the median guideline value in Enjambakkam?

The median guideline value in Enjambakkam is Rs 2,200 per sq.ft, with RAMALINGA NAGAR 3rd STREET's value being above this median.