Guideline Value for RAMASAMY MUDALIYAR NAGAR

Ramasamy Mudaliyar Nagar guideline value

The current guideline value of Ramasamy Mudaliyar Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ramasamy Mudaliyar Nagar has changed

The guideline value for Ramasamy Mudaliyar Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, in 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 160%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are a total of 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Ramasamy Mudaliyar Nagar's 2024 figure below that median.

• Ramanujam Street: Rs 3,700 per sq.ft (2024)
• Ramanathapuram: Rs 1,900 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,300 per sq.ft (2024)
• Retaimalai Srinivasan Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Mudaliyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramasamy Mudaliyar Nagar?

The Sub Registrar Office covering Ramasamy Mudaliyar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramasamy Mudaliyar Nagar?

The current guideline value of Ramasamy Mudaliyar Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing a total increase of 160% over the years.

What are the stamp duty rates for properties in Ramasamy Mudaliyar Nagar?

The stamp duty rate for properties in Ramasamy Mudaliyar Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramasamy Mudaliyar Nagar?

The Sub Registrar Office for Ramasamy Mudaliyar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What other streets have guideline values in Thiruvottiyur?

Other streets in Thiruvottiyur include Ramanujam Street, Ramanathapuram, Rajiv Nagar, Rajiv Gandhi Nagar, Rajeswari Nagar, and Retaimalai Srinivasan Nagar, each with varying guideline values for 2024.