Guideline Value for Rammmorthi Nagar

Rammmorthi Nagar guideline value

The current guideline value for Rammmorthi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Kathivakkam village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Rammmorthi Nagar has changed

The guideline value for Rammmorthi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in 2017. The most significant change occurred between 2017 and 2023, where the guideline value jumped to Rs 1,000 per sq.ft, reflecting an increase of 149%. The value remained unchanged at Rs 1,000 per sq.ft from 2023 to 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,001 per sq.ft, making the guideline value for Rammmorthi Nagar below this median.

• Rajiv Ganthi Nagar: Rs 1,001 per sq.ft (2024)
• Railway Station Road: Rs 1,100 per sq.ft (2024)
• Porkaliyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Sastri Nagar: Rs 1,100 per sq.ft (2024)
• Sathya Nagar: Rs 1,100 per sq.ft (2024)
• Ponga Nagar(Nehru Nagar): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rammmorthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 detailed calculations.

Which Sub Registrar Office covers Rammmorthi Nagar?

The Sub Registrar Office that covers Rammmorthi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kathivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing market conditions, thereby aiding in the proper documentation and taxation of property sales.

Frequently asked questions

What is the current guideline value of Rammmorthi Nagar?

The current guideline value of Rammmorthi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, marking an overall increase of 400% over the years.

What is the registration office for Rammmorthi Nagar?

The registration office for Rammmorthi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Rammmorthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.

Are there other streets with different guideline values in Kathivakkam?

Yes, there are several other streets in Kathivakkam with varying guideline values, ranging from Rs 1,000 to Rs 1,600 per sq.ft, with the median being Rs 1,001 per sq.ft.