Guideline Value for Ramesh Nagar Ext

Ramesh Nagar Ext guideline value

The current guideline value of Ramesh Nagar Ext, located in Pulikoradu village under the Tambaram Joint 1 SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Ramesh Nagar Ext has changed

Over the years, the guideline value for Ramesh Nagar Ext has seen several revisions. The 2012 revision recorded a value of Rs 1,200 per sq.ft, which then changed to Rs 804 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Ramesh Nagar Ext at Rs 1,320 per sq.ft is above this median.

• Ramesh Nagar 3rd street: Rs 1,320 per sq.ft (2024)
• Ramesh Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Ramesh Nagar 2nd street: Rs 1,320 per sq.ft (2024)
• Ramesh Nagar 1st street: Rs 1,320 per sq.ft (2024)
• Ramesh Nagar: Rs 1,320 per sq.ft (2024)
• Ramathilagam Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Ramesh Nagar Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramesh Nagar Ext?

The Sub Registrar Office that covers Ramesh Nagar Ext 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 Pulikoradu

The guideline value is a critical factor in the registration process when buying or selling property in Pulikoradu. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Ramesh Nagar Ext?

The current guideline value for Ramesh Nagar Ext 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 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Ramesh Nagar Ext?

Ramesh Nagar Ext is classified as Residential Class II Type - I, which indicates its suitability for residential development.

How is stamp duty calculated for properties in Ramesh Nagar Ext?

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

Where can I find the Sub Registrar Office for Ramesh Nagar Ext?

The Sub Registrar Office for Ramesh Nagar Ext is located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles all registration activities for the area.