Guideline Value for RAMAPPA NAGAR 2ND CROSS STREET

Ramappa Nagar 2nd Cross Street guideline value

The current guideline value of Ramappa Nagar 2nd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Ramappa Nagar 2nd Cross Street has changed

The guideline value for Ramappa Nagar 2nd Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 262 per sq.ft. This increased to Rs 296 per sq.ft in 2003, marking a 13% rise. The value continued to climb, reaching Rs 1,407 per sq.ft in 2007, which was a substantial increase of 375%. By 2012, the value was Rs 5,000 per sq.ft, showing a remarkable increase of 255% from the previous revision. However, it then decreased to Rs 3,350 per sq.ft in 2017, reflecting a 33% drop. The guideline value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase.

There are no figures available for revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1999%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, positioning Ramappa Nagar 2nd Cross Street above this median.

• Ramappa Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Ramappa Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Rampal Layout: Rs 7,700 per sq.ft (2024)
• Rajiv Nagar Ist Main Road: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Ist Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar Extension 1 And 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramappa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total Rs 4,95,000. 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 more details.

Which Sub Registrar Office covers Ramappa Nagar 2nd Cross Street?

The Sub Registrar Office that covers Ramappa Nagar 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in the property transaction process.

Frequently asked questions

What is the current guideline value of Ramappa Nagar 2nd Cross Street?

The current guideline value of Ramappa Nagar 2nd Cross Street is Rs 5,500 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 262 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1999% over this period.

What is the land classification of Ramappa Nagar 2nd Cross Street?

Ramappa Nagar 2nd Cross Street is classified as Residential Special Type - IV, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 5,500 per sq.ft, the stamp duty is 7% and the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total fee of Rs 4,95,000.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office covers Ramappa Nagar 2nd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.