Guideline Value for RAMALINGA REDDY NAGAR

Ramalinga Reddy Nagar guideline value

The current guideline value of Ramalinga Reddy Nagar, located in Karimbedu village under the Pallipattu SRO, is Rs 104 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ramalinga Reddy Nagar has changed

Over the years, the guideline value for Ramalinga Reddy Nagar has seen several revisions. The 2012 revision set the value at Rs 75 per sq.ft, which decreased to Rs 50 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 100%, bringing the value to Rs 100 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 104 per sq.ft, marking a 4% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 39%.

Guideline values in Karimbedu

In Karimbedu, three streets are currently listed with guideline values effective from 2024. Ramalinga Reddy Nagar's 2024 figure of Rs 104 per sq.ft is equal to the median value of Rs 104 per sq.ft for the area. The other streets in Karimbedu are as follows:

• Sanjeevi Nagar: Rs 100 per sq.ft (2024)
• Santhosh Nagar: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Reddy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value would be Rs 1,04,000. The stamp duty, charged at 7%, would amount to Rs 7,280, while the registration fee at 2% would be Rs 2,080. Together, the total cost for stamp duty and registration fee would be Rs 9,360. 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 further calculations.

Which Sub Registrar Office covers Ramalinga Reddy Nagar?

The Sub Registrar Office that covers Ramalinga Reddy Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karimbedu. It is used to calculate the stamp duty and registration fees, which are mandatory when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramalinga Reddy Nagar?

The current guideline value of Ramalinga Reddy Nagar is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 104 per sq.ft in 2024.

What is the land classification of Ramalinga Reddy Nagar?

Ramalinga Reddy Nagar falls under the Residential Class I Type - I land classification.

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

For a property valued at Rs 1,04,000, the stamp duty would be Rs 7,280 and the registration fee would be Rs 2,080, totaling Rs 9,360.

Which Sub Registrar Office covers Ramalinga Reddy Nagar?

The Pallipattu Sub Registrar Office covers Ramalinga Reddy Nagar, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.