Guideline Value for Ramalingam Nagar

Ramalingam Nagar guideline value

The current guideline value of Ramalingam Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village under the Kunrathur SRO, and the land classification is Residential Special Type - II.

How the guideline value of Ramalingam Nagar has changed

The guideline value for Ramalingam Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% increase. The current value of Rs 1,430 per sq.ft from the 2024 revision represents a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value of Ramalingam Nagar is below this median.

• Ramachandran Nagar / Annexe: Rs 1,210 per sq.ft (2024)
• Ramachandra Avenue: Rs 1,210 per sq.ft (2024)
• Rajeswari Avenue: Rs 1,210 per sq.ft (2024)
• Ranganathan Nagar: Rs 1,210 per sq.ft (2024)
• Rajamaniyam Street: Rs 1,210 per sq.ft (2024)
• R.M.P.Nagar: Rs 1,210 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, leading to a total of Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalingam Nagar?

The Sub Registrar Office that covers Ramalingam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value plays a crucial role in the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar?

The current guideline value of Ramalingam Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current value of Rs 1,430 per sq.ft in 2024. The value rose from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024.

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

For a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100, and the registration fee would be Rs 28,600, totaling Rs 1,28,700. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Ramalingam Nagar?

The Kunrathur Sub Registrar Office handles registrations for Ramalingam Nagar. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Ramalingam Nagar?

Ramalingam Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes within the area.