Guideline Value for Ramasamy Nagar Thottam

Ramasamy Nagar Thottam guideline value

The current guideline value of Ramasamy Nagar Thottam is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Ramasamy Nagar Thottam has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 2,700 per sq.ft, which is an increase of 61% from the previous revision.

Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 8%. The register does not contain figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Ramasamy Nagar Thottam.

• Ramakrishnan Street: Rs 2,700 per sq.ft (2024)
• Ramakrishanan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Rajiv Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Nagar Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramasamy Nagar Thottam?

The Sub Registrar Office that covers Ramasamy Nagar Thottam is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Kodungaiyur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value can influence the final sale price, as it provides a benchmark for both buyers and sellers. It is crucial for parties involved in a transaction to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Ramasamy Nagar Thottam?

The current guideline value of Ramasamy Nagar Thottam is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2024. Overall, from 2012 to 2024, the change is an increase of 8%.

What is the land classification of Ramasamy Nagar Thottam?

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

What are the stamp duty and registration fees in Ramasamy Nagar Thottam?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office for Ramasamy Nagar Thottam located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.