Guideline Value for Ramesh Nagar

Ramesh Nagar guideline value

The current guideline value of Ramesh Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ramesh Nagar has changed

The guideline value for Ramesh Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase of 10% from Rs 500 per sq.ft in 2023. Prior to that, in 2017, the guideline value was Rs 335 per sq.ft, which reflects a significant increase of 49% over the six years leading to 2023. The 2012 revision had set the value at Rs 500 per sq.ft, a decrease of 33% from the previous value in 2017.

There are no figures available for Ramesh Nagar in the 2002, 2003, and 2007 revisions. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Naduveerapattu

Naduveerapattu village features 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Ramesh Nagar's 2024 figure below this median.

• R.R.T.Garden: Rs 660 per sq.ft (2024)
• R.R.T Garden phase-II: Rs 660 per sq.ft (2024)
• R.R.T Garden Phase-III: Rs 1,650 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 550 per sq.ft (2024)
• Sai Garden: Rs 1,540 per sq.ft (2024)
• Sai Greenfield: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Ramesh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramesh Nagar?

The Sub Registrar Office covering Ramesh Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate transactions. Buyers should be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Ramesh Nagar?

The current guideline value of Ramesh Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, marking a 10% increase. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012, with various changes in between.

What is the median guideline value in Naduveerapattu?

The median guideline value in Naduveerapattu is Rs 660 per sq.ft, with Ramesh Nagar's value being below this median.

What are the stamp duty rates for properties in Ramesh Nagar?

The stamp duty rate for properties in Ramesh Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 5,50,000, the stamp duty would amount to Rs 38,500.

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

The Sub Registrar Office for Ramesh Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find more information by visiting the SRO finder link.