Guideline Value for Ramya Nagar

Ramya Nagar guideline value

The current guideline value of Ramya Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,960 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Ramya Nagar has changed

The guideline value for Ramya Nagar has seen several revisions over the years. Starting from Rs 800 per sq.ft in 2007, it increased significantly to Rs 3,600 per sq.ft in 2012, marking a substantial rise of 350%. However, in 2017, the value dropped to Rs 2,412 per sq.ft, representing a decrease of 33%. The value then rose again to Rs 3,600 per sq.ft in 2023, followed by the current figure of Rs 3,960 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 395%. The changes reflect a complex history of fluctuations, with significant increases and decreases over the years, culminating in the current value.

Guideline values in Madanandapuram

Madanandapuram village 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 guideline value for these streets is Rs 3,520 per sq.ft, placing Ramya Nagar's current value above this median.

• Ramya Nagar Extension: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension II: Rs 3,960 per sq.ft (2024)
• Ranjini Nagar: Rs 3,190 per sq.ft (2024)
• Ramji Nagar: Rs 3,190 per sq.ft (2024)
• Ramakrishna 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 Ramya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total costs together to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramya Nagar?

The Sub Registrar Office that covers Ramya Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Madanandapuram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buyers or sellers engage in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and consistency in property valuations, which is essential for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Ramya Nagar?

The current guideline value of Ramya Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, with various revisions occurring in between, including a drop in 2017.

What is the registration office for Ramya Nagar?

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

How is stamp duty calculated in Ramya Nagar?

Stamp duty in Ramya Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.

What are the guideline values for other streets in Madanandapuram?

Other streets in Madanandapuram have varying guideline values, with rates ranging from Rs 2,530 to Rs 5,830 per sq.ft. Ramya Nagar's current value is above the median of Rs 3,520 per sq.ft.