Guideline Value for Ramalinga Colony C - Block Road ( Ward No.23 )

Ramalinga Colony C - Block Road ( Ward No.23 ) guideline value

The current guideline value for Ramalinga Colony C - Block Road ( Ward No.23 ) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, and the land classification is Residential Special Type - I.

How the guideline value of Ramalinga Colony C - Block Road ( Ward No.23 ) has changed

The guideline value for this street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision listed the value at Rs 1,675 per sq.ft, which indicates a significant increase of 49% from the previous 2023 figure. The 2012 revision also recorded a value of Rs 2,500 per sq.ft, showing a decrease of 33% from the 2017 revision.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the guideline value of Ramalinga Colony C - Block Road ( Ward No.23 ) above that median.

• Ramalinga Colony C - Block 3rd Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony C Block (Ward-23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony C - Block 2nd Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block 1st Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony C - Block 1st Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 1st Street (Ward 23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Colony C - Block Road ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramalinga Colony C - Block Road ( Ward No.23 )?

The Sub Registrar Office that covers Ramalinga Colony C - Block Road ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is documented according to the prevailing rates set by the registration department. Buyers and sellers should be aware of these values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Ramalinga Colony C - Block Road ( Ward No.23 )?

The current guideline value for Ramalinga Colony C - Block Road ( Ward No.23 ) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for this area?

The land classification for Ramalinga Colony C - Block Road ( Ward No.23 ) is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000.