Guideline Value for Ramachandra Nagar

Ramachandra Nagar guideline value

The current guideline value of Ramachandra Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramachandra Nagar has changed

The guideline value for Ramachandra Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,600 per sq.ft in 2012, marking a 500% rise. However, this value dropped to Rs 2,412 per sq.ft in 2017, a decrease of 33%. The latest revision in 2023 set the value at Rs 3,600 per sq.ft, before it increased to Rs 3,960 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to the 2012 figure. Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value of Ramachandra Nagar is above this median.

• Ramakrishna Nagar: Rs 3,190 per sq.ft (2024)
• Rajeswari Avenue: Rs 3,960 per sq.ft (2024)
• Ramji Nagar: Rs 3,190 per sq.ft (2024)
• Ramya Nagar: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension II: Rs 3,960 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 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, making the total fees Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramachandra Nagar?

The Sub Registrar Office covering Ramachandra Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Madanandapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential for buyers to be aware of the current guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Ramachandra Nagar?

The current guideline value of Ramachandra Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification of Ramachandra Nagar?

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

What are the stamp duty and registration fees for property in Ramachandra Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,56,400.

Where is the Sub Registrar Office for Ramachandra Nagar located?

The Kunrathur Sub Registrar Office, which covers Ramachandra Nagar, is located at No.59, Road Street, Kundrathur, Chennai -600 069.