Guideline Value for RAMASAMY NAGAR

Ramasamy Nagar guideline value

The current guideline value of Ramasamy Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Kovilkuppam village and falls under the Manavalanagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ramasamy Nagar has changed

The guideline value for Ramasamy Nagar has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 300 per sq.ft. This was followed by a drop to Rs 201 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rebounded to Rs 300 per sq.ft in both the 2023 and 2024 revisions, resulting in an overall change of 0% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, returning to its previous level of Rs 300 per sq.ft in 2023 and remaining the same in the 2024 revision. This indicates stability in the guideline value over the last two revisions.

Guideline values in Kovilkuppam

Kovilkuppam village has 68 streets under the Manavalanagar SRO carrying a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Ramasamy Nagar's 2024 figure is below this median.

• Revathy Garden: Rs 300 per sq.ft (2024)
• Rk Nagar: Rs 300 per sq.ft (2024)
• Raja Rathinam Nagar: Rs 400 per sq.ft (2024)
• Sanjeevi Nagar: Rs 300 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 per sq.ft (2024)
• Pemmasani Avenue: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramasamy Nagar?

The Sub Registrar Office that covers Ramasamy Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kovilkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Ramasamy Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in the 2023 and 2024 revisions, while it was Rs 201 per sq.ft in 2017, showing a significant increase of 49% by 2023. The figure was Rs 300 per sq.ft in 2012, indicating stability from 2012 to 2024.

What is the land classification for Ramasamy Nagar?

Ramasamy Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office for Ramasamy Nagar is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Ramasamy Nagar?

Stamp duty for properties in Ramasamy Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, leading to a stamp duty of Rs 21,000.