Guideline Value for RMD NAGAR

Rmd Nagar guideline value

The current guideline value for Rmd Nagar, located in Sholinganallur - 1 village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Rmd Nagar has changed

The guideline value for Rmd Nagar has seen several revisions over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 69%.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that Rmd Nagar's 2024 figure is below this median.

• Royal Compound: Rs 4,400 per sq.ft (2024)
• Royal Eternity: Rs 5,800 per sq.ft (2024)
• Ravi Street: Rs 2,200 per sq.ft (2024)
• Sabthagiri Nagar: Rs 2,200 per sq.ft (2024)
• Sadaiyandi Street (Grama Nedunchalai 30th Cross Street): Rs 2,200 per sq.ft (2024)
• Sai Baba Garden: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rmd Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rmd Nagar?

The Rmd Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rmd Nagar?

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

How much has the guideline value changed since 2017?

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

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is higher than the current value of Rmd Nagar.

What are the stamp duty rates for properties in Rmd Nagar?

The stamp duty for properties in Rmd Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.