Guideline Value for RAMANA NAGAR

Ramana Nagar guideline value

The current guideline value of Ramana Nagar, located in Minjur village under the Ponneri SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ramana Nagar has changed

The guideline value for Ramana Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Ramana Nagar is above this median.

• Ramamoorthy Street: Rs 550 per sq.ft (2024)
• Ramarettipalayam Colony: Rs 550 per sq.ft (2024)
• Ramarettipalayam & Main Road: Rs 550 per sq.ft (2024)
• Ramathilagam Avenue: Rs 550 per sq.ft (2024)
• Ramshankar Nagar: Rs 550 per sq.ft (2024)
• Rajeswari Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Ramana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramana Nagar?

The Sub Registrar Office that covers Ramana Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a critical role during the registration of property transactions in Minjur. It is used to determine the stamp duty and registration fees applicable on the property being bought or sold, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller engages in a property transaction, the guideline value is referenced to calculate the associated costs. This ensures transparency and helps in maintaining a standardized process for property registrations within the region.

Frequently asked questions

What is the current guideline value of Ramana Nagar?

The current guideline value of Ramana Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, which is a total increase of 64% over these years.

What are the other streets in Minjur with their guideline values?

Other streets in Minjur include Ramamoorthy Street, Ramarettipalayam Colony, Ramarettipalayam & Main Road, Ramathilagam Avenue, and Ramshankar Nagar, all valued at Rs 550 per sq.ft in 2024. Rajeswari Nagar has a guideline value of Rs 880 per sq.ft.

What fees are associated with buying property in Ramana Nagar?

The fees associated with buying property in Ramana Nagar include stamp duty at 7% and a registration fee at 2%, calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramana Nagar?

The Sub Registrar Office for Ramana Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registration activities for properties in the area.