Guideline Value for Ramalingam Nagar

Ramalingam Nagar guideline value

The current guideline value of Ramalingam Nagar is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under Ayyencheri village and is registered with the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Ramalingam Nagar has changed

The guideline value for Ramalingam Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 325 per sq.ft, which significantly increased to Rs 1,500 per sq.ft in the 2012 revision. However, this value remained unchanged in the 2012 to 2017 period, where it dropped to Rs 1,005 per sq.ft. The most recent revision in 2023 set the guideline value at Rs 1,500 per sq.ft, marking a 49% increase from the 2017 revision.

Overall, from 2007 to 2023, the guideline value has increased by 362%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Ayyencheri

Currently, there are no specific village figures available for Ayyencheri. However, Ramalingam Nagar is part of this locality, and there are no other streets in Ayyencheri under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Ramalingam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, leading to a total of Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalingam Nagar?

The Gooduvancheri Sub Registrar Office covers Ramalingam Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayyencheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the actual sale price is taken into account to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's worth.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar?

The current guideline value of Ramalingam Nagar is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 325 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then dropped to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

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

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles property registration for Ramalingam Nagar?

The Gooduvancheri Sub Registrar Office handles property registration for Ramalingam Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

Are there other streets in Ayyencheri with guideline values?

Currently, there are no other streets in Ayyencheri under the Gooduvancheri SRO with specified guideline values.