Guideline Value for Ramadas Nagar

Ramadas Nagar guideline value

The current guideline value of Ramadas Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Ramadas Nagar has changed

The guideline value for Ramadas Nagar has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and further rose to the current value of Rs 3,850 per sq.ft in 2024. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value for Ramadas Nagar above the median.

• Ramachandra Avenue: Rs 1,650 per sq.ft (2024)
• Ramakrishanapuram Vinayagar Street: Rs 1,650 per sq.ft (2024)
• RajParis Nagar SBI Colony: Rs 1,650 per sq.ft (2024)
• RamaKrishna Nagar: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 2nd street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 3rd street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. Please note that the 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 Ramadas Nagar?

The Sub Registrar Office that covers Ramadas Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is crucial during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Ramadas Nagar?

The current guideline value of Ramadas Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Ramadas Nagar?

The land classification for Ramadas Nagar is Residential Special Type - II.

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

For a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500.

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

The Sub Registrar Office for Ramadas Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.