Guideline Value for RAMACHANDRA NAGAR CROSS STREET

Ramachandra Nagar Cross Street guideline value

The current guideline value of Ramachandra Nagar Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ramachandra Nagar Cross Street has changed

The guideline value for Ramachandra Nagar Cross Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a 10% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Ramachandra Nagar Cross Street's 2024 figure above that median.

• Ramachandra Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar Ist Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 2nd Street 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 2nd Street 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 precise calculations.

Which Sub Registrar Office covers Ramachandra Nagar Cross Street?

The Sub Registrar Office that covers Ramachandra Nagar Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value plays a critical role in property transactions in Iyyappanthangal. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure they are paying the correct fees during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramachandra Nagar Cross Street?

The current guideline value of Ramachandra Nagar Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the median guideline value in Iyyappanthangal?

The median guideline value in Iyyappanthangal is Rs 2,200 per sq.ft, with Ramachandra Nagar Cross Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering Ramachandra Nagar Cross Street is the Chennai South Joint I Sub Registrar Office. You can find more information by visiting the link to find your SRO.