Guideline Value for RAMACHANDRA NAGAR IST STREET

Ramachandra Nagar Ist Street guideline value

The current guideline value for Ramachandra Nagar Ist 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 Ist Street has changed

Over the years, the guideline value for Ramachandra Nagar Ist Street has seen significant changes. The 2007 revision recorded a value of Rs 750 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 233%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent 2024 revision increased it to Rs 2,750 per sq.ft, a rise of 10% from the previous year.

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 267%.

Guideline values in Iyyappanthangal

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

• Ramachandra Nagar Cross Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 4th 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 Ist 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of 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 precise calculations.

Which Sub Registrar Office covers Ramachandra Nagar Ist Street?

Ramachandra Nagar Ist Street is covered by 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. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Iyyappanthangal. It determines 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 serves as a reference point for both buyers and sellers. It is essential to consider this value to understand the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value for Ramachandra Nagar Ist Street?

The current guideline value for Ramachandra Nagar Ist 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 changed 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 land classification for Ramachandra Nagar Ist Street?

The land classification for Ramachandra Nagar Ist Street is Residential Class I Type - I.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

Where can I find the Sub Registrar Office for Ramachandra Nagar Ist Street?

The Sub Registrar Office covering Ramachandra Nagar Ist Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.