Guideline Value for Ramachandran Nagar

Ramachandran Nagar guideline value

The current guideline value of Ramachandran Nagar, located in Agraharam Vada village under the Poonamallee SRO, is Rs 850 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ramachandran Nagar has changed

The guideline value of Ramachandran Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was subsequently reduced to Rs 536 per sq.ft in 2017. However, the value increased significantly to Rs 800 per sq.ft in 2023 and further to Rs 850 per sq.ft in 2024, marking a 6% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The changes reflect the fluctuations in property values within this timeframe.

Guideline values in Agraharam Vada

In Agraharam Vada, there are 17 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 660 to Rs 1,650 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Ramachandran Nagar is below this median.

• Pilliyar Koil Street: Rs 850 per sq.ft (2024)
• Shree Mahalakshmi Nagar: Rs 880 per sq.ft (2024)
• Padmavathy Nagar Extension: Rs 1,650 per sq.ft (2024)
• Padmavathy Nagar: Rs 850 per sq.ft (2024)
• Sri Ambal Avenue: Rs 880 per sq.ft (2024)
• Sri Ambal Nagar Kamachi Avenue: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total fees to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramachandran Nagar?

The Sub Registrar Office that covers Ramachandran Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Agraharam Vada. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential to be aware that the guideline value is set by the government and is subject to periodic revisions. Buyers and sellers should ensure they are informed of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramachandran Nagar?

The current guideline value of Ramachandran Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the land classification for Ramachandran Nagar?

Ramachandran Nagar is classified as Residential Class I Type - I. This classification helps determine the guideline value for properties in the area.

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

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Which office should I contact for property registration in Ramachandran Nagar?

The Poonamallee Sub Registrar Office is responsible for property registration in Ramachandran Nagar. The office is located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.