Guideline Value for Ramadoss Nagar

Ramadoss Nagar guideline value

The current guideline value of Ramadoss Nagar, located in Kolumanivakkam village under the Kunrathur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Ramadoss Nagar has changed

The guideline value for Ramadoss Nagar has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it decreased to Rs 536 per sq.ft in 2017. The 2023 revision set the value at Rs 800 per sq.ft, and the most recent revision in 2024 raised it to Rs 880 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The shift from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was substantial at 167%. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft, with a median value of Rs 1,350 per sq.ft. The guideline value of Ramadoss Nagar is below this median.

• Rajiv Nagar: Rs 880 per sq.ft (2024)
• Punniyakodi Nagar: Rs 1,930 per sq.ft (2024)
• Sai Mahalakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Sai Nagammal Avenue: Rs 2,200 per sq.ft (2024)
• Sai Vallalar Sivasankaran Nagar: Rs 1,650 per sq.ft (2024)
• Sathya Nagar: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadoss Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramadoss Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolumanivakkam. It determines the base value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the government registry.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of Ramadoss Nagar?

The current guideline value of Ramadoss Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the land classification of Ramadoss Nagar?

Ramadoss Nagar is classified as Residential Special Type - III, which indicates its suitability for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations for the area.

How is stamp duty calculated in Ramadoss Nagar?

Stamp duty in Ramadoss Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the same value.