Guideline Value for Ramasamy Nagar - Navaneethamal Road

Ramasamy Nagar - Navaneethamal Road guideline value

The current guideline value for Ramasamy Nagar - Navaneethamal Road is Rs 4,400 per sq.ft. This road is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramasamy Nagar - Navaneethamal Road has changed

The guideline value for Ramasamy Nagar - Navaneethamal Road has undergone several revisions over the years. In 2002, the value was Rs 572 per sq.ft, which increased to Rs 625 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,100 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, the value dropped to Rs 2,680 per sq.ft in 2017, before climbing to Rs 4,000 per sq.ft again in 2023. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 669%. The changes between the revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a remarkable 264% increase from 2007 to 2012, a 76% increase from 2003 to 2007, and a 9% increase from 2002 to 2003. There are no figures available for the revisions of years not listed for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value for Ramasamy Nagar - Navaneethamal Road.

• Ramasamy Nagar - Kushaldas Road: Rs 4,400 per sq.ft (2024)
• Ramasamy Nagar: Rs 4,400 per sq.ft (2024)
• Ramar Street (Sri Ram Street): Rs 4,950 per sq.ft (2024)
• Ramalakshmanan Street: Rs 3,850 per sq.ft (2024)
• Ramakrishna Street: Rs 3,850 per sq.ft (2024)
• Rathnammal Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Nagar - Navaneethamal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 Ramasamy Nagar - Navaneethamal Road?

The Sub Registrar Office that covers Ramasamy Nagar - Navaneethamal Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Saligramam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government collects the appropriate taxes based on the established guideline values.

When selling property, the guideline value serves as a reference point for the sale price. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to calculate the necessary fees accurately.

Frequently asked questions

What is the current guideline value for Ramasamy Nagar - Navaneethamal Road?

The current guideline value for Ramasamy Nagar - Navaneethamal Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 572 per sq.ft in 2002 to the current Rs 4,400 per sq.ft in 2024, marking an overall increase of 669% over the years.

What is the land classification for Ramasamy Nagar - Navaneethamal Road?

Ramasamy Nagar - Navaneethamal Road is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles registrations for properties in Ramasamy Nagar - Navaneethamal Road.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.