Guideline Value for RAMPAL LAYOUT

Rampal Layout guideline value

The current guideline value of Rampal Layout is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Rampal Layout has changed

The guideline value of Rampal Layout has seen significant changes over the years. In 2007, the value was Rs 250 per sq.ft. This figure rose dramatically to Rs 7,000 per sq.ft in 2012, marking an increase of 2700%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, which is a reduction of 33%. The subsequent revision in 2023 raised the value to Rs 7,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 7,700 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 2980%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

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 is Rs 3,300 per sq.ft, placing Rampal Layout's value above this median.

• Rathinamani Nagar: Rs 2,800 per sq.ft (2024)
• Rathinamani Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Ramappa Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Ramappa Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Ramappa Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Rajiv Nagar Ist Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rampal Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 details.

Which Sub Registrar Office covers Rampal Layout?

The Sub Registrar Office that covers Rampal Layout 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

When buying or selling property in Perungudi, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Additionally, the guideline value is regularly revised to reflect changes in the real estate market, ensuring that it remains relevant. Buyers and sellers should be aware of these values to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Rampal Layout?

The current guideline value of Rampal Layout is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 250 per sq.ft to Rs 7,700 per sq.ft in 2024, marking an overall increase of 2980%.

What is the registration office for Rampal Layout?

The Neelankarai Sub Registrar Office covers Rampal Layout, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty rates for properties in Rampal Layout?

The stamp duty for properties in Rampal Layout is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where can I find more information about guideline values?

More information about guideline values can be found in the Registration Department's guideline value register (TNReginet) or by visiting the relevant Sub Registrar Office.