Guideline Value for Ramasamy Nagar

Ramasamy Nagar guideline value

The current guideline value of Ramasamy Nagar, located in Nedunkumdram village, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - III land classification. The property is registered under the Tambaram Joint 1 SRO.

How the guideline value of Ramasamy Nagar has changed

The guideline value for Ramasamy Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nedunkumdram

Nedunkumdram village has a total of 75 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 330 to Rs 5,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Ramasamy Nagar's current value below this median.

• Sadanantha Puram: Rs 1,650 per sq.ft (2024)
• Sadhanandha Nagar: Rs 1,650 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,430 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 1,430 per sq.ft (2024)
• Sbjh Garden: Rs 1,980 per sq.ft (2024)
• Perumal Nagar Extension: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. 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?

The Sub Registrar Office that covers Ramasamy Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Nedunkumdram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ramasamy Nagar?

The current guideline value of Ramasamy Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase. It was Rs 804 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Ramasamy Nagar?

Ramasamy Nagar falls under the Residential Special Type - III land classification. This classification is essential for understanding the zoning and usage regulations for properties in the area.

Where can I find the Sub Registrar Office for Ramasamy Nagar?

The Sub Registrar Office for Ramasamy Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Ramasamy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.