Guideline Value for Ramalinga Nagar

Ramalinga Nagar guideline value

The current guideline value of Ramalinga Nagar, located in Naravarikuppam village, is Rs 2,200 per sq.ft, effective from the 2024 revision. This area falls under the jurisdiction of the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Ramalinga Nagar has changed

The guideline value for Ramalinga Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Ramalinga Nagar is above this median.

• Ramalinga Adigalar Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• R.R.C. Road: Rs 2,200 per sq.ft (2024)
• Raghavel Naicker Street Lane: Rs 1,650 per sq.ft (2024)
• Ragavalu Nayakkar Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Street: Rs 1,650 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramalinga Nagar?

The Sub Registrar Office that covers Ramalinga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is essential during the registration of property transactions in Naravarikuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Ramalinga Nagar?

The current guideline value for Ramalinga Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 267% over this period.

What are the stamp duty and registration fees for property in Ramalinga Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office serves Ramalinga Nagar?

The Redhills Sub Registrar Office serves Ramalinga Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Ramalinga Nagar?

Ramalinga Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.