Guideline Value for RAMAKAMATHUPURAM

Ramakamathupuram guideline value

The current guideline value of Ramakamathupuram is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Ramakamathupuram has changed

The guideline value for Ramakamathupuram has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 2,609 per sq.ft. This increased to Rs 2,896 per sq.ft in 2003, marking an 11% rise. The value then saw a modest increase of 4% to Rs 3,000 per sq.ft in 2007. The 2012 revision recorded a significant jump to Rs 5,000 per sq.ft, which represented a 67% increase. However, the value dropped by 33% to Rs 3,350 per sq.ft in 2017. The 2023 revision brought the value up to Rs 5,000 per sq.ft, and the most recent revision in 2024 set it at Rs 5,500 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 111%. There are no figures available for the revisions of the years not listed in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value 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, making the current value of Ramakamathupuram below that median.

• Ramachandra Street: Rs 6,600 per sq.ft (2024)
• Ramachandra Road: Rs 11,000 per sq.ft (2024)
• Ramakrishnapuram: Rs 7,700 per sq.ft (2024)
• Ramakrishna Street (D.No 1.Kences Tower Commercial Complex): Rs 27,500 per sq.ft (2024)
• Ramakrishna Street (Other Than D.No.1 Kences Towers Residencial 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 Ramakamathupuram

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramakamathupuram?

The Sub Registrar Office that covers Ramakamathupuram is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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 is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value helps in establishing a fair basis for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Ramakamathupuram?

The current guideline value of Ramakamathupuram is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several changes, increasing from Rs 2,609 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 111%.

What is the land classification for Ramakamathupuram?

Ramakamathupuram is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Ramakamathupuram?

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

How is the stamp duty calculated for properties in Ramakamathupuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.