Guideline Value for Ramalingam Nagar

Ramalingam Nagar guideline value

The current guideline value of Ramalingam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kottivakkam village under the Adayar SRO and is classified as Residential Class III Type - I.

How the guideline value of Ramalingam Nagar has changed

The guideline value for Ramalingam Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 224 per sq.ft. This increased significantly to Rs 267 per sq.ft in 2003, marking a 19% rise. The value then jumped dramatically to Rs 2,200 per sq.ft in 2007, an increase of 724%. In 2012, the value was revised to Rs 3,000 per sq.ft, reflecting a decrease of 33% from the previous revision.

In the following years, the guideline value continued to rise, reaching Rs 2,010 per sq.ft in 2017, which was a 49% increase from 2012. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, before the current figure of Rs 3,300 per sq.ft was established in 2024, reflecting a 10% increase.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Ramalingam Nagar's 2024 figure below this median.

• Rajiv Road: Rs 3,900 per sq.ft (2024)
• Raja Garden Main Road: Rs 3,900 per sq.ft (2024)
• Raja Garden 3rd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden 2nd Street: Rs 3,900 per sq.ft (2024)
• Raja Garden 1st Street: Rs 3,900 per sq.ft (2024)
• Rukmani Colony: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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?

The Sub Registrar Office that covers Ramalingam Nagar is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kottivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher. This ensures that the transaction is legally recognized and that all financial obligations are met.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar?

The current guideline value of Ramalingam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 224 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1373% over the years.

What is the land classification of Ramalingam Nagar?

Ramalingam Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Ramalingam Nagar?

The Adayar Sub Registrar Office, which covers Ramalingam Nagar, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.