Guideline Value for Ramadhas Nagar

Ramadhas Nagar guideline value

The current guideline value of Ramadhas Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class IV Type - I.

How the guideline value of Ramadhas Nagar has changed

In the 2007 revision, the guideline value was Rs 700 per sq.ft. This figure increased significantly by 186% to Rs 2,000 per sq.ft in the 2012 revision. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The 2017 revision saw a substantial increase of 49%, bringing the value to Rs 2,000 per sq.ft in 2023.

With the latest 2024 revision, the guideline value rose by 10% to Rs 2,200 per sq.ft. It is important to note that the register has no figures for Ramadhas Nagar for the years 2002 and 2003.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Ramadhas Nagar is below this median.

• Ramaiya Colony: Rs 2,200 per sq.ft (2024)
• Ramakrishana Nagar: Rs 2,700 per sq.ft (2024)
• Ramani Nagar: Rs 2,700 per sq.ft (2024)
• Ramdoss Nagar: Rs 2,700 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 2,700 per sq.ft (2024)
• Raja Rajashwari Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadhas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramadhas Nagar?

The Sub Registrar Office that covers Ramadhas Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolathur, as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

During the registration process, it is essential to ensure that the property is valued accurately according to the current guideline value. This ensures compliance with local regulations and helps avoid any legal issues in the future.

Frequently asked questions

What is the current guideline value of Ramadhas Nagar?

The current guideline value of Ramadhas Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 700 per sq.ft in 2007, rising to Rs 2,200 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Ramadhas Nagar?

Ramadhas Nagar is classified as Residential Class IV Type - I, which indicates its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Ramadhas Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.