Guideline Value for RAMYA NAGAR

Ramya Nagar guideline value

The current guideline value of Ramya Nagar, located in Thelliyaragaram village, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification within the Chennai South Joint I SRO.

How the guideline value of Ramya Nagar has changed

The guideline value for Ramya Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it then dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and most recently, it has been set at Rs 1,100 per sq.ft for 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Ramya Nagar in the guideline value register. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thelliyaragaram

In Thelliyaragaram, there are 16 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 3,300 per sq.ft, with a median value of Rs 1,210 per sq.ft. The guideline value for Ramya Nagar is below this median.

• Poonamallee High Road: Rs 3,300 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Taj Nagar: Rs 1,100 per sq.ft (2024)
• Thiruveethiamman Koil Street: Rs 1,650 per sq.ft (2024)
• Mayana Salai: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramya Nagar?

Ramya Nagar falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thelliyaragaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramya Nagar?

The current guideline value of Ramya Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing a significant overall increase of 450%.

What are the other streets in Thelliyaragaram with their guideline values?

Other streets in Thelliyaragaram include Poonamallee High Road at Rs 3,300 per sq.ft, Ponniamman Koil Street and Pillaiyar Koil Street at Rs 1,320 per sq.ft, Taj Nagar and Mayana Salai at Rs 1,100 per sq.ft, and Thiruveethiamman Koil Street at Rs 1,650 per sq.ft.

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

For a 1,000 sq.ft property at the guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Ramya Nagar?

Ramya Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.