Guideline Value for Ramagiri Nagar 100ft Taramani Link Road

Ramagiri Nagar 100ft Taramani Link Road guideline value

The current guideline value for Ramagiri Nagar 100ft Taramani Link Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This location falls under Velachery village and is classified as Commercial Class I Type - I in the Velacheri SRO.

How the guideline value of Ramagiri Nagar 100ft Taramani Link Road has changed

In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This figure decreased to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, there was a significant increase of 64%, bringing the current guideline value to Rs 13,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This change reflects the fluctuations in the property market over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that Ramagiri Nagar 100ft Taramani Link Road's current value is above this median.

• Ramagiri Nagar: Rs 4,950 per sq.ft (2024)
• Ramagiri Nagar 2nd Street / Seshadripuram: Rs 4,950 per sq.ft (2024)
• Ramagiri 6th Street: Rs 4,950 per sq.ft (2024)
• Ramagiri Nagar Ambedkar Colony: Rs 4,950 per sq.ft (2024)
• Ramagiri 5th Street: Rs 4,950 per sq.ft (2024)
• Ramagiri Nagar (Arumuga Nagar): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ramagiri Nagar 100ft Taramani Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramagiri Nagar 100ft Taramani Link Road?

The Sub Registrar Office that covers Ramagiri Nagar 100ft Taramani Link Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an important reference for property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Ramagiri Nagar 100ft Taramani Link Road?

The current guideline value for Ramagiri Nagar 100ft Taramani Link Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 12,000 per sq.ft in 2012, decreased to Rs 8,040 per sq.ft in 2017, and then increased to Rs 13,200 per sq.ft in 2024.

What is the land classification for this area?

Ramagiri Nagar 100ft Taramani Link Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Ramagiri Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000.