Guideline Value for Ramas Encalve

Ramas Encalve guideline value

The current guideline value of Ramas Encalve, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Ramas Encalve has changed

Over the years, the guideline value for Ramas Encalve has seen significant changes. The 2017 revision set the value at Rs 1,273 per sq.ft, which increased to Rs 1,900 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the guideline value to Rs 2,090 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting the changes in the real estate landscape over that period.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current value of Ramas Encalve.

• Ram Nagar: Rs 2,090 per sq.ft (2024)
• Ranga Colony: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Selva Vinayagar Koil Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Main Road Ist Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Main Road 4th Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Main Road 3rd Cross Street: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Ramas Encalve

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramas Encalve?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Noombal. It serves as a benchmark for determining the value of the property for registration purposes, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramas Encalve?

The current guideline value of Ramas Encalve is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 1,273 per sq.ft to Rs 2,090 per sq.ft in 2024.

What is the land classification for Ramas Encalve?

Ramas Encalve is classified as Residential Special Type - I, which indicates its zoning for residential purposes.

Where can I find the Sub Registrar Office for Ramas Encalve?

The Sub Registrar Office for Ramas Encalve is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 20,90,000 incurs a stamp duty of Rs 1,46,300 and a registration fee of Rs 41,800.