Guideline Value for RAMALINGA NAGAR

Ramalinga Nagar guideline value

The current guideline value of Ramalinga Nagar is Rs 9,900 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Ramalinga Nagar has changed

The guideline value of Ramalinga Nagar has seen significant changes over the years. In 2002, the value was Rs 564 per sq.ft, which increased to Rs 624 per sq.ft in 2003. Following this, the value jumped to Rs 1,300 per sq.ft in 2007, marking a substantial increase of 108%. In 2012, the guideline value was Rs 9,000 per sq.ft, but it decreased by 33% to Rs 6,030 per sq.ft in 2017. The value then rose to Rs 9,000 per sq.ft in 2023 and reached Rs 9,900 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1655%. There are no figures available for revisions in years other than those specified.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, which is the same as the guideline value for Ramalinga Nagar.

• Raju Street: Rs 7,160 per sq.ft (2024)
• Raji Street: Rs 9,900 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,520 per sq.ft (2024)
• Rangachari Road: Rs 11,000 per sq.ft (2024)
• Ranganathapuram Road: Rs 9,900 per sq.ft (2024)
• Rajasrinivasa Nagar: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, making the total charges Rs 8,91,000. 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 detailed calculations.

Which Sub Registrar Office covers Ramalinga Nagar?

The Sub Registrar Office that covers Ramalinga Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Ramalinga Nagar?

The current guideline value for Ramalinga Nagar is Rs 9,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 564 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 1655%.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, which is the same as the current value for Ramalinga Nagar.

What are the stamp duty rates for properties in Ramalinga Nagar?

The stamp duty rate for properties in Ramalinga Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramalinga Nagar?

The Sub Registrar Office for Ramalinga Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.