Guideline Value for Ramji Nagar

Ramji Nagar guideline value

The current guideline value of Ramji Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Ramji Nagar has changed

The guideline value for Ramji Nagar has undergone several revisions over the years. In 2012, the value was Rs 2,900 per sq.ft, which decreased to Rs 1,943 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,900 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the value at Rs 3,190 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madanandapuram

Madanandapuram has a total of 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, placing Ramji Nagar's 2024 figure below this median.

• Ramya Nagar: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension II: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar: Rs 3,190 per sq.ft (2024)
• Ranjini Nagar: Rs 3,190 per sq.ft (2024)
• Ramachandra Nagar: Rs 3,960 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 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, while the registration fee at 2% would be Rs 63,800. Thus, the total cost for stamp duty and registration would be Rs 2,87,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees payable to the government. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during property transactions.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the registration process is transparent and standardized across different properties within the same locality.

Frequently asked questions

What is the current guideline value of Ramji Nagar?

The current guideline value of Ramji Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification of Ramji Nagar?

Ramji Nagar is classified as Residential Special Type - III under the Kunrathur SRO.

What is the registration office for Ramji Nagar?

The registration office for Ramji Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Ramji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 31,90,000 would incur a stamp duty of Rs 2,23,300 at 7%.