Guideline Value for RAMAN STREET

Raman Street guideline value

The current guideline value of Raman Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - I.

How the guideline value of Raman Street has changed

The guideline value for Raman Street has seen significant changes over the years. In 2003, the value was Rs 2,349 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007, marking a 70% rise. The value then surged to Rs 13,000 per sq.ft in 2012, reflecting a substantial increase of 225%. However, it dropped to Rs 8,710 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 13,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 14,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 509%. The register has no figure for the year 2002 for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 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 Raman Street's 2024 figure above this median.

• Ramanathan Street: Rs 13,200 per sq.ft (2024)
• Ramanujan Street: Rs 13,200 per sq.ft (2024)
• Rama Rao Street: Rs 13,200 per sq.ft (2024)
• Ramasamy Street: Rs 14,300 per sq.ft (2024)
• Rameshwaram Road: Rs 17,600 per sq.ft (2024)
• Ramakrishna Street (Other Than D.No.1 Kences Towers Residencial Complex): Rs 27,500 per sq.ft (2024)

Stamp duty and registration fee for property in Raman Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raman Street?

The Sub Registrar Office that covers Raman Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration of property transactions in Tnagar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for Raman Street?

The current guideline value for Raman Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 2,349 per sq.ft to Rs 14,300 per sq.ft in 2024, marking an overall increase of 509%.

What is the land classification for Raman Street?

Raman Street is classified as Mixed Special Type - I under the guideline value register.

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

The Sub Registrar Office covering Raman Street is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Raman Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 14,300 per sq.ft incurs a stamp duty of Rs 10,01,000 for a 1,000 sq.ft plot.