Guideline Value for RAMYA NAGAR LAYOUT

Ramya Nagar Layout guideline value

The current guideline value for Ramya Nagar Layout is Rs 1,700 per sq.ft, effective from 1 July 2024. This layout is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ramya Nagar Layout has changed

The guideline value of Ramya Nagar Layout has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The current guideline value, effective from July 2024, is Rs 1,700 per sq.ft, reflecting a 13% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 69%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ramya Nagar Layout's current value below that median.

• Ranganathan Avenue: Rs 5,500 per sq.ft (2024)
• Ravi Street: Rs 2,200 per sq.ft (2024)
• Ramdev Thottam: Rs 1,700 per sq.ft (2024)
• Rambabu Thottam: Rs 1,700 per sq.ft (2024)
• Rmd Nagar: Rs 1,700 per sq.ft (2024)
• Royal Compound: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramya Nagar Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramya Nagar Layout?

The Ramya Nagar Layout falls under the jurisdiction of 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 details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1. It serves as a reference point for the valuation of properties and is used to determine the applicable stamp duty and registration fees during the registration process.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Ramya Nagar Layout?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, which is an overall increase of 69%.

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

For a property of 1,000 sq.ft at the guideline value of Rs 1,700 per sq.ft, the total guideline value is Rs 17,00,000. The stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Ramya Nagar Layout?

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

What is the land classification for Ramya Nagar Layout?

Ramya Nagar Layout is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.