Guideline Value for RAMALINGA NAGAR

Ramalinga Nagar guideline value

The current guideline value of Ramalinga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Kavulbazaar village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Ramalinga Nagar has changed

The guideline value for Ramalinga Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the value further to Rs 1,100 per sq.ft, marking a change of 10% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of figures for these years indicates that no revisions were recorded during that time for Ramalinga Nagar.

Guideline values in Kavulbazaar

Kavulbazaar village has 44 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median value for these streets is Rs 825 per sq.ft, positioning Ramalinga Nagar's 2024 figure above that median.

• Rathinavel Nagar: Rs 825 per sq.ft (2024)
• Pozhichalur Salai: Rs 825 per sq.ft (2024)
• Periyar Street: Rs 825 per sq.ft (2024)
• Neduchalai Street: Rs 1,100 per sq.ft (2024)
• Napc Sudarma: Rs 1,100 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 details.

Which Sub Registrar Office covers Ramalinga Nagar?

The Sub Registrar Office that covers Ramalinga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kavulbazaar. It is used as a benchmark for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value helps determine the amount of tax payable. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Ramalinga Nagar?

The current guideline value of Ramalinga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for property in Ramalinga Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office should I visit for transactions in Ramalinga Nagar?

The Pammal Sub Registrar Office covers Ramalinga Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Ramalinga Nagar?

Ramalinga Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.