Guideline Value for Ramji Nagar

Ramji Nagar guideline value

The current guideline value of Ramji Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Ramji Nagar has changed

The guideline value of Ramji Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 77 per sq.ft, which increased to Rs 90 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, followed by a notable increase to Rs 1,400 per sq.ft in 2012. However, it decreased to Rs 938 per sq.ft in 2017. The 2023 revision marked an increase to Rs 1,400 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,500 per sq.ft.

Between the revisions, there have been various percentage changes. From 2002 to 2024, the overall increase is 1,848%. The value rose by 17% from 2002 to 2003, 233% from 2003 to 2007, 367% from 2007 to 2012, and then dropped by 33% from 2012 to 2017. An increase of 49% was observed from 2017 to 2023, followed by a 7% rise from 2023 to 2024.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median being Rs 1,500 per sq.ft. The guideline value for Ramji Nagar aligns with this median.

• Ramachandran Street: Rs 1,100 per sq.ft (2024)
• Redhills Road: Rs 2,800 per sq.ft (2024)
• Royal City: Rs 1,400 per sq.ft (2024)
• Sabari Nagar: Rs 1,400 per sq.ft (2024)
• Raasi Nagar: Rs 1,100 per sq.ft (2024)
• Sathyamurthy Co.Op.Building Society Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramji Nagar?

The Sub Registrar Office that covers Ramji Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramji Nagar?

The current guideline value of Ramji Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 77 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1,848% over the years.

What is the land classification for Ramji Nagar?

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

What are the stamp duty and registration fees for property in Ramji Nagar?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles property registrations for Ramji Nagar?

The Ambattur Sub Registrar Office handles property registrations for Ramji Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.