Guideline Value for Ramachandra Nagar

Ramachandra Nagar guideline value

The current guideline value of Ramachandra Nagar, located in Srinivasapuram village under the Kunrathur SRO, is Rs 1,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Ramachandra Nagar has changed

Over the years, the guideline value of Ramachandra Nagar has seen significant changes. The register shows that in 2003, the guideline value was Rs 47 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 751%. The value remained at Rs 400 per sq.ft until 2012, when it jumped to Rs 1,600 per sq.ft, a remarkable increase of 300%. However, from 2012 to 2017, it decreased to Rs 1,072 per sq.ft, reflecting a decline of 33%. In 2023, the value was revised to Rs 1,600 per sq.ft, and most recently, in 2024, it has increased to Rs 1,750 per sq.ft, which is a rise of 9%.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 3623%.

Guideline values in Srinivasapuram

Srinivasapuram village has 39 streets under the Kunrathur SRO with a guideline value for 2024 ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Ramachandra Nagar's 2024 figure above this median.

• Rajarathinam Nagar / Annexe: Rs 2,000 per sq.ft (2024)
• Ragavendira Nagar: Rs 2,000 per sq.ft (2024)
• R.R.Nagar Annexe: Rs 1,550 per sq.ft (2024)
• Sai Rai Nagar: Rs 1,550 per sq.ft (2024)
• Sangamithra Avenue: Rs 2,000 per sq.ft (2024)
• Perumal Koil Street: Rs 1,550 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 1,750 per sq.ft, the total guideline value amounts to Rs 17,50,000. The stamp duty, charged at 7%, would be Rs 1,22,500, and the registration fee at 2% would be Rs 35,000, bringing the total to Rs 1,57,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Srinivasapuram

The guideline value is an essential factor in property transactions in Srinivasapuram, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value when negotiating sale prices, as the duty is charged on the higher of the guideline value or the sale price.

When registering a property, the guideline value helps ensure that the transaction is recorded accurately and transparently. It serves as a benchmark for property transactions, providing a standardized method for assessing property value in the region.

Frequently asked questions

What is the current guideline value of Ramachandra Nagar?

The current guideline value of Ramachandra Nagar is Rs 1,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 47 per sq.ft in 2003 to Rs 1,750 per sq.ft in 2024, reflecting an overall increase of 3623% over this period.

What is the land classification of Ramachandra Nagar?

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

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

For a property valued at Rs 17,50,000, the stamp duty would be Rs 1,22,500 and the registration fee would be Rs 35,000, totaling Rs 1,57,500.

Where is the Kunrathur Sub Registrar Office located?

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