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_B village under the Sriperumpudur SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Ramachandra Nagar has changed

The guideline value for Ramachandra Nagar has undergone several revisions over the years. The 2024 revision maintains the guideline value at Rs 350 per sq.ft, the same as the 2023 revision. Prior to this, in 2017, the guideline value was Rs 234 per sq.ft, marking a 50% increase from 2017 to 2023. Overall, from 2017 to 2024, there has been a 50% increase in the guideline value.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Ramachandra Nagar is above this median.

• 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)
• Ponniamman Nagar Ph.I: Rs 200 per sq.ft (2024)
• Santhi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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_B

The guideline value is a crucial factor in property transactions in Somangalam_B, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall costs involved in the transaction. Ensuring that the property is registered at or above the guideline value is necessary for compliance with local regulations.

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 from 2023 to 2024. It increased from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023, marking a 50% increase over that period.

What are the other streets in Somangalam_B?

Other streets in Somangalam_B include Raisa Nagar Annex, Raisa Nagar, Real Value Nagar, Real Value Nagar Phase III, Ponniamman Nagar Ph.I, and Santhi Nagar, each with varying guideline values for 2024.

How is the stamp duty calculated for properties in Ramachandra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at a rate of 7%.

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. You can find more information on the official website.