Guideline Value for RAMALINGAM NAGAR

Ramalingam Nagar guideline value

The current guideline value of Ramalingam Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vilvarayanalloor village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramalingam Nagar has changed

The guideline value of Ramalingam Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. This remained unchanged until the 2017 revision, which decreased to Rs 134 per sq.ft. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, and it has remained at Rs 200 per sq.ft in the 2024 revision as well. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 300 per sq.ft. The median value is Rs 200 per sq.ft, which is the same as the current guideline value for Ramalingam Nagar.

• Prakash Park .. Malini Garden: Rs 200 per sq.ft (2024)
• Poonguzhali Amman Nagar: Rs 200 per sq.ft (2024)
• Mullai Nagar II: Rs 200 per sq.ft (2024)
• Mullai Nagar Extension -III: Rs 200 per sq.ft (2024)
• Mullai Nagar: Rs 200 per sq.ft (2024)
• Malligai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 further calculations.

Which Sub Registrar Office covers Ramalingam Nagar?

The Sub Registrar Office that covers Ramalingam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vilvarayanalloor. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, reflecting the current market conditions. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar?

The current guideline value of Ramalingam Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023.

What is the land classification of Ramalingam Nagar?

Ramalingam Nagar is classified as Residential Special Type - I under the Madurandakam SRO.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 18,000.

Which office handles registrations for Ramalingam Nagar?

The Madurandakam Sub Registrar Office handles registrations for Ramalingam Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu.