Guideline Value for RAMSHANKAR NAGAR

Ramshankar Nagar guideline value

The current guideline value of Ramshankar Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramshankar Nagar has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This figure increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Ramshankar Nagar. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of Ramshankar Nagar.

• Rangha Avenue: Rs 440 per sq.ft (2024)
• Rathna Avenue: Rs 440 per sq.ft (2024)
• Ramathilagam Avenue: Rs 550 per sq.ft (2024)
• Ramarettipalayam & Main Road: Rs 550 per sq.ft (2024)
• Ramarettipalayam Colony: Rs 550 per sq.ft (2024)
• Ramana Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Ramshankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 Ramshankar Nagar?

The Sub Registrar Office that covers Ramshankar Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property.

When a property is registered, the guideline value is referenced to ensure that the appropriate fees are collected based on the higher of the guideline value or the sale price. This ensures compliance with local regulations and accurate fee assessment.

Frequently asked questions

What is the current guideline value of Ramshankar Nagar?

The current guideline value of Ramshankar Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing an overall increase of 64%.

What are the stamp duty and registration fees for a property in Ramshankar Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 5,50,000, the total stamp duty and registration fees would be Rs 49,500.

Which office handles property registration in Ramshankar Nagar?

The Ponneri Sub Registrar Office handles property registration in Ramshankar Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Ramshankar Nagar?

Ramshankar Nagar is classified as Residential Class II Type - I, which is relevant for determining its guideline value and property use.