Guideline Value for Ramalingam Nagar ( Ward No.26 )

Ramalingam Nagar ( Ward No.26 ) guideline value

The current guideline value of Ramalingam Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Ramalingam Nagar ( Ward No.26 ) has changed

In the 2012 revision, the guideline value for Ramalingam Nagar was Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ramalingam Nagar is below this median.

• Ramalinga colony, Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Ramalinga colony D Block, Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block Main Road ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 4th Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block 4th Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 3rd Street (Ward 23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam Nagar ( Ward No.26 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. 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 Ramalingam Nagar ( Ward No.26 )?

The Sub Registrar Office that covers Ramalingam Nagar 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 crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar ( Ward No.26 )?

The current guideline value of Ramalingam Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8%. There was no change in the value from 2012 to 2023.

What is the land classification of Ramalingam Nagar?

Ramalingam Nagar is classified as Residential Class III Type - I, which indicates its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties in Ramalingam Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Ramalingam Nagar?

The Madhavaram Sub Registrar Office handles property registrations for Ramalingam Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.