Guideline Value for Ramalinga Colony C Block (Ward-23)

Ramalinga Colony C Block (Ward-23) guideline value

The current guideline value of Ramalinga Colony C Block (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram Sub Registrar Office (SRO). The land classification for this region is Residential Special Type - I.

How the guideline value of Ramalinga Colony C Block (Ward-23) has changed

The guideline value for Ramalinga Colony C Block has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following that, the 2023 revision increased it to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,700 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 8%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, placing Ramalinga Colony C Block (Ward-23) above this median.

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

Stamp duty and registration fee for property in Ramalinga Colony C Block (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramalinga Colony C Block (Ward-23)?

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

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

The guideline value is a crucial component in the property registration process in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction, adhering to the legal requirements set by the government.

Frequently asked questions

What is the current guideline value of Ramalinga Colony C Block (Ward-23)?

The current guideline value of Ramalinga Colony C Block (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions. From Rs 2,500 per sq.ft in 2012, it decreased to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Ramalinga Colony C Block?

The land classification for Ramalinga Colony C Block (Ward-23) is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Ramalinga Colony C Block?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 1,89,000 at a rate of 7%.