Guideline Value for RAMALINGA NAGAR

Ramalinga Nagar guideline value

The current guideline value of Ramalinga Nagar is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Ramalinga Nagar has changed

Since 2002, the guideline value for Ramalinga Nagar has seen significant changes. In 2002, the value was Rs 594 per sq.ft, which increased to Rs 653 per sq.ft in 2003, marking a 10% rise. The value then rose substantially to Rs 1,200 per sq.ft in 2007, reflecting an 84% increase. By 2012, the value reached Rs 4,600 per sq.ft, a remarkable 283% increase from 2007. However, there was a decline to Rs 3,082 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 shows a guideline value of Rs 5,000 per sq.ft, which is a 62% increase from 2017.

It is important to note that there is no figure for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 742%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which means that Ramalinga Nagar's 2024 figure is below this median.

• Ramamoorthi Street: Rs 5,000 per sq.ft (2024)
• Ramanujakoodam Street: Rs 5,300 per sq.ft (2024)
• Raju Street: Rs 7,100 per sq.ft (2024)
• Rajeswari Street: Rs 4,400 per sq.ft (2024)
• Rangarajapuram Colony 1st Street: Rs 7,100 per sq.ft (2024)
• Rangarajapuram Colony 2nd Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puliyur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value is also used to assess the market value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, which is essential for local development and infrastructure.

Frequently asked questions

What is the current guideline value of Ramalinga Nagar?

The current guideline value of Ramalinga Nagar is Rs 5,000 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 594 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 742% over this period.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include Ramamoorthi Street at Rs 5,000 per sq.ft, Ramanujakoodam Street at Rs 5,300 per sq.ft, Raju Street at Rs 7,100 per sq.ft, Rajeswari Street at Rs 4,400 per sq.ft, Rangarajapuram Colony 1st Street at Rs 7,100 per sq.ft, and Rangarajapuram Colony 2nd Street at Rs 7,100 per sq.ft.

What is the stamp duty rate in Ramalinga Nagar?

The stamp duty rate in Ramalinga Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Ramalinga Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.