Guideline Value for Ramalinga Nagar,

Ramalinga Nagar, guideline value

The current guideline value of Ramalinga Nagar in Madipakkam-1 village, under the Velacheri SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Ramalinga Nagar, has changed

The guideline value for Ramalinga Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. The most recent revision in 2024 increased this to Rs 2,750 per sq.ft, reflecting a significant change of 64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is the same as the guideline value for Ramalinga Nagar.

• Ramalingam Nagar Sokkanatha Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar sivasubramaniyam Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Sankaradas Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Nagar Extension, Nandanar Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Main Road(Shankardas 2nd Street): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Nagar,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramalinga Nagar,?

The Ramalinga Nagar area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process of property transactions. It serves as a baseline for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ramalinga Nagar?

The current guideline value of Ramalinga Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a 64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the classification of land in Ramalinga Nagar?

Ramalinga Nagar is classified as Residential Class I Type - III, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Ramalinga Nagar?

The Velacheri Sub Registrar Office handles registrations for Ramalinga Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.