Guideline Value for Ramachandra Nagar

Ramachandra Nagar guideline value

The current guideline value of Ramachandra Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ramachandra Nagar has changed

Over the years, the guideline value for Ramachandra Nagar has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value increased by 50% to return to Rs 350 per sq.ft. The 2024 revision maintains this rate, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only available revisions are from 2012, 2017, 2023, and 2024, with the current value reflecting stability since 2012.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value is Rs 350 per sq.ft, which is equal to the current value for Ramachandra Nagar.

• Raisa Nagar Annex: Rs 150 per sq.ft (2024)
• Raisa Nagar: Rs 250 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)
• Real Value Nagar Phase III: Rs 350 per sq.ft (2024)
• Rkp Residency: Rs 700 per sq.ft (2024)
• Ponniamman Nagar Ph.I: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total cost to Rs 31,500. 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 Ramachandra Nagar?

The Sub Registrar Office that covers Ramachandra Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Somangalam, the guideline value plays a crucial role in determining the registration charges. The guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ramachandra Nagar?

The current guideline value of Ramachandra Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft in 2012, 2023, and 2024, with a decrease to Rs 234 per sq.ft in 2017. The value has shown no change from 2023 to 2024.

What is the land classification of Ramachandra Nagar?

Ramachandra Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ramachandra Nagar?

The Sub Registrar Office for Ramachandra Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in Ramachandra Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,50,000, the stamp duty would be Rs 24,500.