Guideline Value for Ramdoss Nagar

Ramdoss Nagar guideline value

The current guideline value of Ramdoss Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO and is classified as Residential Class II Type - I.

How the guideline value of Ramdoss Nagar has changed

Over the years, the guideline value of Ramdoss Nagar has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023 and further increased to the current value of Rs 2,700 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2012 to 2017, the guideline value decreased by 33%. In contrast, the value saw a substantial increase of 49% from 2017 to 2023 and an 8% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Ramdoss Nagar is below this median.

• Ramani Nagar: Rs 2,700 per sq.ft (2024)
• Rangadoss Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Ramakrishana Nagar: Rs 2,700 per sq.ft (2024)
• Ramaiya Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramdoss Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramdoss Nagar?

The Sub Registrar Office that covers Ramdoss Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Ramdoss Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over this period.

What is the land classification for Ramdoss Nagar?

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

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for Ramdoss Nagar.

How is stamp duty calculated in Kolathur?

Stamp duty in Kolathur is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.