Guideline Value for RAMAMURTHY NAGAR - I

Ramamurthy Nagar - I guideline value

The current guideline value of Ramamurthy Nagar - I is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Pazhanthandalam village, under the Padappai SRO, and is classified as Mixed Type - II land.

How the guideline value of Ramamurthy Nagar - I has changed

Over the years, the guideline value for Ramamurthy Nagar - I has seen significant changes. The 2017 revision recorded a value of Rs 737 per sq.ft, which increased to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 1,200 per sq.ft, reflecting a further increase of 9% from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pazhanthandalam

Pazhanthandalam village features a range of guideline values across its 57 streets under the Padappai SRO, with values ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Ramamurthy Nagar - I's 2024 figure above that median.

• Ramamurthy Nagar - II: Rs 1,200 per sq.ft (2024)
• Rathi's Sri Sai City Phase-I: Rs 1,540 per sq.ft (2024)
• Rathi's Sri Sai City Phase-II: Rs 1,540 per sq.ft (2024)
• Rathi's Sri Sai City-Phase-III: Rs 1,540 per sq.ft (2024)
• Raghavendra Nagar Extn I to V: Rs 770 per sq.ft (2024)
• Ragavendira Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamurthy Nagar - I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramamurthy Nagar - I?

The Sub Registrar Office that covers Ramamurthy Nagar - I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pazhanthandalam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Ramamurthy Nagar - I?

The current guideline value for Ramamurthy Nagar - I is Rs 1,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 63%, rising from Rs 737 per sq.ft to Rs 1,200 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for Ramamurthy Nagar - I in 2023 was Rs 1,100 per sq.ft.

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

The relevant Sub Registrar Office for Ramamurthy Nagar - I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.