Guideline Value for RAMAN NAGAR

Raman Nagar guideline value

The current guideline value for Raman Nagar, located in Nelli village under the Salavakkam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Raman Nagar has changed

The guideline value for Raman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in 2023, and the latest revision in 2024 has further increased it to Rs 103 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 3%.

Guideline values in Nelli

Nelli village has 25 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 103 per sq.ft, with the median value being Rs 103 per sq.ft. Raman Nagar's 2024 figure aligns with this median.

• Rasi Nagar: Rs 103 per sq.ft (2024)
• Rajinikanth Nagar: Rs 103 per sq.ft (2024)
• Rb -Nagar: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-1: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-2: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Raman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 103 per sq.ft, the guideline value amounts to Rs 1,03,000. The stamp duty, charged at 7%, would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, totaling Rs 9,270. It is important to note that 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 more details.

Which Sub Registrar Office covers Raman Nagar?

The Sub Registrar Office that covers Raman Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for additional information.

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

When buying or selling property in Nelli, the guideline value is used as a benchmark for determining the stamp duty and registration fees. This value is crucial during the registration process, as it helps in calculating the applicable charges based on the property size and value.

It is essential for buyers and sellers to be aware of the guideline value as it ensures compliance with local regulations and helps avoid discrepancies during property transactions. The guideline value reflects the official valuation set by the Registration Department, which is used throughout the registration process.

Frequently asked questions

What is the current guideline value of Raman Nagar?

The current guideline value of Raman Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Raman Nagar?

The land classification for Raman Nagar is Residential Special Type - I.

Where is the Sub Registrar Office for Raman Nagar located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for property in Raman Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 103 per sq.ft, the total stamp duty would be Rs 7,210.