Guideline Value for RAMESH NAGAR PART II

Ramesh Nagar Part II guideline value

The current guideline value for Ramesh Nagar Part II is Rs 709 per sq.ft. This area is located in Ponthoor village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Ramesh Nagar Part II has changed

In the 2017 revision, the guideline value was Rs 475 per sq.ft. This figure remained unchanged at Rs 709 per sq.ft in the 2023 revision and continued to be Rs 709 per sq.ft in the 2024 revision, resulting in a significant increase of 49% from 2017 to 2023. The guideline value has not changed between 2023 and 2024, with a 0% change noted during this period.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, making the Rs 709 per sq.ft for Ramesh Nagar Part II above the median.

• Ramesh Nagar Part - I: Rs 310 per sq.ft (2024)
• Rkp Residency: Rs 2,239 per sq.ft (2024)
• Rosappoo Street: Rs 300 per sq.ft (2024)
• Raja Reddy Avenue: Rs 448 per sq.ft (2024)
• Samanthi Poo Street: Rs 300 per sq.ft (2024)
• Sampangi Poo Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramesh Nagar Part II

For a 1,000 sq.ft plot at the current rate of Rs 709 per sq.ft, the guideline value amounts to Rs 7,09,000. The stamp duty at 7% would be Rs 49,630, and the registration fee at 2% would be Rs 14,180, making the total charges Rs 63,810. 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 Ramesh Nagar Part II?

The Sub Registrar Office that covers Ramesh Nagar Part II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ponthoor. It serves as the base value for calculating stamp duty and registration fees, ensuring that these charges are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the legal sale price, as it is used to assess the applicable taxes and fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Ramesh Nagar Part II?

The current guideline value for Ramesh Nagar Part II is Rs 709 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 49%, rising from Rs 475 per sq.ft to Rs 709 per sq.ft in 2024.

What is the median guideline value for streets in Ponthoor?

The median guideline value for streets in Ponthoor is Rs 300 per sq.ft, with Ramesh Nagar Part II being above this median at Rs 709 per sq.ft.

What are the stamp duty and registration fees for a property in Ramesh Nagar Part II?

The stamp duty for a property in Ramesh Nagar Part II is 7%, while the registration fee is 2%. For a 1,000 sq.ft property, the total charges amount to Rs 63,810.

Which office handles registrations for Ramesh Nagar Part II?

The Sriperumpudur Sub Registrar Office handles registrations for Ramesh Nagar Part II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.