Guideline Value for RAMESH NAGAR

Ramesh Nagar guideline value

The current guideline value of Ramesh Nagar, located in Vilingiyambakkam village under the Avadi SRO, is Rs 1,105 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - IV.

How the guideline value of Ramesh Nagar has changed

The guideline value for Ramesh Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 1,105 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. For the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Ramesh Nagar is above this median.

• Ramanujam Street (West): Rs 1,625 per sq.ft (2024)
• Ramanujam Street: Rs 1,625 per sq.ft (2024)
• Ramanujam 5th Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 4th Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 3rd Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 2nd Cross St: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Ramesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,105 per sq.ft, the total guideline value amounts to Rs 11,05,000. The stamp duty at 7% would be Rs 77,350, and the registration fee at 2% would be Rs 22,100, bringing the total cost for these fees to Rs 99,450. 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?

The Sub Registrar Office that covers Ramesh Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vilingiyambakkam. It determines the minimum value at which properties can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. This helps in maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Ramesh Nagar?

The current guideline value of Ramesh Nagar is Rs 1,105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,105 per sq.ft in 2024, marking a 10% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2012.

What is the land classification of Ramesh Nagar?

The land classification for Ramesh Nagar is Residential Class II Type - IV, indicating its designated use for residential purposes.

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

The Avadi Sub Registrar Office covers Ramesh Nagar and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property in Ramesh Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 77,350.