Guideline Value for Real Value Nagar

Real Value Nagar guideline value

The current guideline value of Real Value Nagar, located in Amarampedu village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Real Value Nagar has changed

Over the years, the guideline value of Real Value Nagar has seen several revisions. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012, marking a 600% rise. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 234 per sq.ft. The value then rose again to Rs 350 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. The current value of Rs 350 per sq.ft in 2024 is the same as it was in 2023 and 2012, indicating stability in the recent years. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Amarampedu

Amarampedu village has a total of 45 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for the village is Rs 200 per sq.ft, placing Real Value Nagar above this median.

• Real Value Nagar Phase 3: Rs 350 per sq.ft (2024)
• Royal Town Phase 1: Rs 350 per sq.ft (2024)
• Royal Town Phase 2: Rs 350 per sq.ft (2024)
• Sarvamangala Nagar: Rs 200 per sq.ft (2024)
• School Street: Rs 350 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Real Value Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Real Value Nagar?

The Sub Registrar Office that covers Real Value Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction. Buyers and sellers should be aware that the guideline value is used to calculate the costs associated with property transactions.

When registering a property, the guideline value ensures that the transaction is documented at a fair value as determined by the local authorities. This helps maintain transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Real Value Nagar?

The current guideline value of Real Value Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and has remained at Rs 350 per sq.ft since 2023.

What is the land classification of Real Value Nagar?

Real Value Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Real Value Nagar located?

The Sub Registrar Office for Real Value Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property in Real Value Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 24,500.