Guideline Value for Ramanan Nagar

Ramanan Nagar guideline value

The current guideline value of Ramanan Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramanan Nagar has changed

The guideline value for Ramanan Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 55 per sq.ft. This increased significantly to Rs 200 per sq.ft in the 2012 revision, marking a rise of 264%. However, in the 2017 revision, the value decreased to Rs 134 per sq.ft, which was a decline of 33%. The 2023 revision saw the value rise again to Rs 200 per sq.ft, and the most recent 2024 revision has set it at Rs 210 per sq.ft, reflecting a 5% increase from the previous year. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 282%. The changes between the revisions illustrate the fluctuations in the property values over the years, with significant increases and a notable decrease during the 2017 revision.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, placing Ramanan Nagar's 2024 figure below this median.

• Rajiv Gandhi Street: Rs 210 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 210 per sq.ft (2024)
• Rajan Nagar: Rs 300 per sq.ft (2024)
• Rajaji Street: Rs 150 per sq.ft (2024)
• Royal Homes: Rs 300 per sq.ft (2024)
• Prime City: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total charges to Rs 18,900. It is essential to note that the 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 information.

Which Sub Registrar Office covers Ramanan Nagar?

The Sub Registrar Office that covers Ramanan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Nemili. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Ramanan Nagar?

The current guideline value of Ramanan Nagar is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2007 to Rs 210 per sq.ft in 2024, reflecting an overall increase of 282% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would be Rs 18,900.

Which Sub Registrar Office covers Ramanan Nagar?

The Sriperumpudur Sub Registrar Office covers Ramanan Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Ramanan Nagar?

Ramanan Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes within the locality.