Guideline Value for RAMYA RENG & RAMYA RAMAA

Ramya Reng & Ramya Ramaa guideline value

The current guideline value for Ramya Reng & Ramya Ramaa in Melavalam village is Rs 200 per sq.ft, effective from the 2024 revision. This property falls under the Madurandakam SRO and is classified as Residential Special Type - II.

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

The guideline value for Ramya Reng & Ramya Ramaa has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 200 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 134 per sq.ft. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision. The most recent revision in 2024 has kept the guideline value at Rs 200 per sq.ft, indicating no change from the previous year.

Between the revisions, there were notable changes. From 2017 to 2023, the guideline value increased by 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 200 per sq.ft.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Ramya Reng & Ramya Ramaa is below this median.

• R. R. Nagar: Rs 200 per sq.ft (2024)
• Saranya Nagar: Rs 250 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• M.S.K. Nagar: Rs 200 per sq.ft (2024)
• Vb Nagar: Rs 200 per sq.ft (2024)
• Venkatesan Nagar: Rs 400 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramya Reng & Ramya Ramaa?

The Madurandakam Sub Registrar Office covers Ramya Reng & Ramya Ramaa. The office is 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 Melavalam

The guideline value is a critical factor when buying or selling property in Melavalam. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value serves as a baseline for calculating the applicable fees. It is essential to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

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 200 per sq.ft, effective from the 2024 revision.

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 back to Rs 200 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Ramya Reng & Ramya Ramaa?

Ramya Reng & Ramya Ramaa is classified as Residential Special Type - II.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Melavalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.