Guideline Value for RAMACHANDRA STREET

Ramachandra Street guideline value

The current guideline value of Ramachandra Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramachandra Street has changed

The guideline value for Ramachandra Street has seen several revisions over the years. In 2002, the value was Rs 1,684 per sq.ft. It increased to Rs 1,869 per sq.ft in 2003, marking a change of 11%. The value further rose to Rs 2,100 per sq.ft in 2007, which was a 12% increase from the previous year. The 2012 revision set the value at Rs 6,000 per sq.ft, reflecting a significant increase of 186% from 2007. However, it then decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value increased to Rs 6,000 per sq.ft, and in 2024, it rose again to Rs 6,600 per sq.ft, showing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 292%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Ramachandra Street's current value below this median.

• Ramachandra Road: Rs 11,000 per sq.ft (2024)
• Ramakamathupuram: Rs 5,500 per sq.ft (2024)
• Ramakrishnapuram: Rs 7,700 per sq.ft (2024)
• Ramakrishna Street (D.No 1.Kences Tower Commercial Complex) facing To North Usaman Road: Rs 27,500 per sq.ft (2024)
• Ramakrishna Street (Other Than D.No.1 Kences Towers Residential Complex): Rs 27,500 per sq.ft (2024)
• Ramanathan Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value totals Rs 66,00,000. The stamp duty at 7% amounts to Rs 4,62,000, and the registration fee at 2% is Rs 1,32,000, bringing the total cost to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramachandra Street?

Ramachandra Street is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ramachandra Street?

The current guideline value of Ramachandra Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 1,684 per sq.ft to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 292% over the years.

What is the land classification of Ramachandra Street?

Ramachandra Street is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

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

The Sub Registrar Office covering Ramachandra Street is the Thiyagaraya nagar SRO, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated for properties in Tnagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 66,00,000 incurs a stamp duty of 7% and a registration fee of 2% on that value.