Guideline Value for RAMAPPA NAGAR MAIN ROAD

Ramappa Nagar Main Road guideline value

The current guideline value of Ramappa Nagar Main Road in Perungudi village, under the Neelankarai SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - IV.

How the guideline value of Ramappa Nagar Main Road has changed

The guideline value for Ramappa Nagar Main Road has seen several revisions over the years. Starting from Rs 262 per sq.ft in 2002, it increased to Rs 296 per sq.ft in 2003, marking a 13% rise. The value then surged significantly to Rs 3,847 per sq.ft in 2007, reflecting a remarkable increase of 1,200%. Following this, the value adjusted to Rs 5,000 per sq.ft in 2012, which was a decrease of 33%. In 2017, it rose again to Rs 3,350 per sq.ft, and then to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions of this street in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1,999%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Ramappa Nagar Main Road's 2024 figure above this median.

• Ramappa Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Ramappa Nagar 1st Cross Street: 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 Main Road

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 amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Ramappa Nagar Main Road?

The Sub Registrar Office that covers Ramappa Nagar Main Road 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 stamp duty and registration fees that need to be paid when a property is sold or purchased.

When you register a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ramappa Nagar Main Road?

The current guideline value of Ramappa Nagar Main Road 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 from Rs 262 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,999% over this period.

What is the land classification for Ramappa Nagar Main Road?

Ramappa Nagar Main Road is classified as Residential Special Type - IV.

Where can I find the Sub Registrar Office for Ramappa Nagar Main Road?

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

How is the stamp duty calculated for properties in Ramappa Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 5,500 per sq.ft would incur a stamp duty of Rs 3,85,000.