Guideline Value for Rambakthi Nagar

Rambakthi Nagar guideline value

The current guideline value of Rambakthi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rambakthi Nagar has changed

The guideline value for Rambakthi Nagar has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 575%. However, this value saw a decrease of 33% to Rs 1,809 per sq.ft in 2017. Following that, the value increased by 49% to reach Rs 2,700 per sq.ft in 2023, and it has now risen by 10% to the current value of Rs 2,970 per sq.ft in 2024.

It is important to note that the register has no figures for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 643%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a guideline value range from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the guideline value of Rambakthi Nagar for 2024.

• Ramaswamy Street (Dikshither Nagar): Rs 1,650 per sq.ft (2024)
• Ram Pakshi Nagar: Rs 2,970 per sq.ft (2024)
• Ramanujam Street: Rs 2,970 per sq.ft (2024)
• Raman Street: Rs 2,970 per sq.ft (2024)
• Ranganathan Cross Street: Rs 2,970 per sq.ft (2024)
• Ranganathan Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Rambakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that 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 Rambakthi Nagar?

The Rambakthi Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Hastinapuram. It is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the property is valued appropriately according to government regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Rambakthi Nagar?

The current guideline value of Rambakthi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty rate for property transactions in Rambakthi Nagar?

The stamp duty rate for property transactions in Rambakthi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How can I calculate the total registration fees for a property?

You can calculate the total registration fees by using the guideline value and applying the stamp duty and registration fee percentages. For a detailed calculation, you can use the stamp duty and registration fee calculator.