Guideline Value for RAMAKANNAN GUNASEELAN GARDEN

Ramakannan Gunaseelan Garden guideline value

The current guideline value of Ramakannan Gunaseelan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Uthandi village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Ramakannan Gunaseelan Garden has changed

The guideline value for Ramakannan Gunaseelan Garden has undergone several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and then to Rs 1,100 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and from 2023 to 2024, the guideline value rose by 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Uthandi

In Uthandi village, there are 197 streets under the Neelankarai SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Ramakannan Gunaseelan Garden is below this median.

• Ramachandran Garden: Rs 1,100 per sq.ft (2024)
• Ramakrishnan Garden: Rs 1,100 per sq.ft (2024)
• Ramarajamanickam Garden: Rs 1,100 per sq.ft (2024)
• Rajendran Garden: Rs 1,100 per sq.ft (2024)
• Ramasubramanian Garden: Rs 1,100 per sq.ft (2024)
• Rajapathar Thottam: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakannan Gunaseelan Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakannan Gunaseelan Garden?

The Sub Registrar Office covering Ramakannan Gunaseelan Garden 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 more information.

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

When buying or selling property in Uthandi, the guideline value plays a crucial role in determining the registration fees and stamp duties applicable. The guideline value serves as a benchmark for calculating these costs, ensuring that both parties are aware of the financial implications of the transaction.

During the registration process, the guideline value is assessed alongside the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ramakannan Gunaseelan Garden?

The current guideline value of Ramakannan Gunaseelan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office should I visit for transactions in Ramakannan Gunaseelan Garden?

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

What is the land classification for Ramakannan Gunaseelan Garden?

Ramakannan Gunaseelan Garden is classified as Residential Class III Type - I, indicating its suitability for residential purposes.