Guideline Value for RAMYA RENG & RAMYA RAMAA

Ramya Reng & Ramya Ramaa guideline value

The current guideline value for Ramya Reng & Ramya Ramaa in Arayapakkam village is Rs 202 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office and is classified as Residential Class I Type - III.

How the guideline value of Ramya Reng & Ramya Ramaa has changed

The guideline value for Ramya Reng & Ramya Ramaa has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 200 per sq.ft, which was then adjusted to Rs 134 per sq.ft in the 2017 revision. This marked a decrease of 33%. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, and further to Rs 202 per sq.ft in the 2024 revision, showing a 1% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by just 1%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arayapakkam

In Arayapakkam, there are 15 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 120 to Rs 400 per sq.ft. The median value for these streets is Rs 203 per sq.ft, indicating that the guideline value for Ramya Reng & Ramya Ramaa is slightly below this median.

• Rayal City Phase-II: Rs 200 per sq.ft (2024)
• Roja Nagar: Rs 203 per sq.ft (2024)
• Royal City Phase - I Ext: Rs 250 per sq.ft (2024)
• Royal City Phase - II Ext: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar: Rs 203 per sq.ft (2024)
• Sri Patchaiyammal Nagar: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Ramya Reng & Ramya Ramaa

For a 1,000 sq.ft plot at the current guideline value of Rs 202 per sq.ft, the total guideline value amounts to Rs 2,02,000. The stamp duty at 7% would be Rs 14,140, and the registration fee at 2% would be Rs 4,040, making the total cost for these fees Rs 18,180. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramya Reng & Ramya Ramaa?

The Ramya Reng & Ramya Ramaa area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Arayapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to avoid discrepancies during registration. It is essential to ensure that the sale price is either at or above the guideline value to comply with legal requirements.

Frequently asked questions

What is the current guideline value for Ramya Reng & Ramya Ramaa?

The current guideline value for Ramya Reng & Ramya Ramaa is Rs 202 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 200 per sq.ft in 2023, and finally to Rs 202 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 2,02,000, the stamp duty would be Rs 14,140 and the registration fee would be Rs 4,040, totaling Rs 18,180.

Which Sub Registrar Office should I visit for transactions in Ramya Reng & Ramya Ramaa?

The Madurandakam Sub Registrar Office covers transactions in Ramya Reng & Ramya Ramaa. It is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum price for property registration, ensuring that the government collects the appropriate stamp duty and registration fees during transactions.