Guideline Value for RAMACHANDRA THOTTAM

Ramachandra Thottam guideline value

The current guideline value of Ramachandra Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is part of the Sholinganallur - 1 village and falls under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramachandra Thottam has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise over the six-year period. The most recent revision in 2024 sets the guideline value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 69%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, positioning Ramachandra Thottam's 2024 figure below this median.

• RAJIV GANDHI SALAI 1st CROSS STREET: Rs 5,500 per sq.ft (2024)
• Rajiv Gandhi Nagar Mayana Pathai: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Thottam?

The Sub Registrar Office that covers Ramachandra Thottam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in property transactions in Sholinganallur - 1. 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, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers should also ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Ramachandra Thottam?

The current guideline value of Ramachandra Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, marking a total increase of 69% over this period.

What is the stamp duty rate for properties in Ramachandra Thottam?

The stamp duty rate for properties in Ramachandra Thottam is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the guideline values of other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft, with the median being Rs 2,200 per sq.ft. Ramachandra Thottam's value is below this median.