Guideline Value for RAMA RAO STREET

Rama Rao Street guideline value

The current guideline value of Rama Rao Street in Tnagar village, under the Thiyagaraya nagar SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Special Type - II.

How the guideline value of Rama Rao Street has changed

The guideline value for Rama Rao Street has seen significant changes over the years. In 2002, the value was Rs 1,226 per sq.ft, which increased to Rs 1,361 per sq.ft in 2003, marking an 11% rise. The value then surged to Rs 4,269 per sq.ft in 2007, reflecting a substantial increase of 214%. Following this, the value reached Rs 12,000 per sq.ft in 2012, showing a remarkable growth of 181%. However, there was a decrease to Rs 8,040 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 12,000 per sq.ft in 2023, and finally, it rose to Rs 13,200 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 977%. There are no figures available for revisions in other years for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, which means that the 2024 guideline value of Rama Rao Street is above that median.

• Ramanujan Street: Rs 13,200 per sq.ft (2024)
• Raman Street: Rs 14,300 per sq.ft (2024)
• Ramasamy Street: Rs 14,300 per sq.ft (2024)
• Ramanathan Street: Rs 13,200 per sq.ft (2024)
• Rameshwaram Road: Rs 17,600 per sq.ft (2024)
• Ramakrishna Street (Other Than D.No.1 Kences Towers Residential Complex): Rs 27,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rama Rao Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total cost together to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rama Rao Street?

The Sub Registrar Office that covers Rama Rao Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Rama Rao Street?

The current guideline value of Rama Rao Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,226 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting a total increase of 977% over this period.

What is the land classification for Rama Rao Street?

The land classification for Rama Rao Street is Mixed Special Type - II.

What are the stamp duty and registration fees for property in Rama Rao Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,32,00,000, with stamp duty at 7% amounting to Rs 9,24,000 and a registration fee at 2% totaling Rs 2,64,000, leading to a combined cost of Rs 11,88,000.

Which Sub Registrar Office covers Rama Rao Street?

The Thiyagaraya nagar Sub Registrar Office covers Rama Rao Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.