Guideline Value for RAMYA NAGAR

Ramya Nagar guideline value

The current guideline value of Ramya Nagar, located in Baraniputjur village under the Kunrathur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ramya Nagar has changed

The guideline value for Ramya Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a reduction of 33%. The value further decreased to Rs 600 per sq.ft in 2023, which was a 10% decline from the previous revision. The current value of Rs 700 per sq.ft reflects a 17% increase from the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has decreased by 30%.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft, with a median value of Rs 1,210 per sq.ft. The guideline value for Ramya Nagar is below this median.

• Sammandham Nagar: Rs 820 per sq.ft (2024)
• Poonamallee High Road: Rs 1,450 per sq.ft (2024)
• Pilliyar Koil Street: Rs 1,210 per sq.ft (2024)
• Perumal Koil Street: Rs 1,210 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,210 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 1,210 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramya Nagar?

The Sub Registrar Office that covers Ramya Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Baraniputjur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramya Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, Rs 600 per sq.ft in 2023, and finally to Rs 700 per sq.ft in 2024.

What is the land classification of Ramya Nagar?

Ramya Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Ramya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.