Guideline Value for RAMANA NAGAR

Ramana Nagar guideline value

The current guideline value of Ramana Nagar, located in Perambur village under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Ramana Nagar has changed

The guideline value of Ramana Nagar has seen several revisions over the years. The earliest recorded figure is Rs 420 per sq.ft in 2002, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. Following this, the value jumped significantly to Rs 700 per sq.ft in 2007, reflecting a 52% increase. The next revision in 2012 maintained the value at Rs 3,500 per sq.ft, showing no change from the previous figure. In 2023, the value remained at Rs 3,500 per sq.ft, and finally, the latest revision in 2024 set the value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 805%. It is important to note that there is no figure available for the year 2017 in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Ramana Nagar is above this median.

• Ramaswamy Chetty Street: Rs 4,300 per sq.ft (2024)
• Ramchandra Iyer Street: Rs 3,200 per sq.ft (2024)
• Ramakrishna Mudali Street: Rs 3,800 per sq.ft (2024)
• Ramakrishna Mudali 2nd Street: Rs 3,800 per sq.ft (2024)
• Ramakrishna Mudali 1st Street: Rs 3,800 per sq.ft (2024)
• Rajiv Gandhi Nagar Hut Area: Rs 2,200 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. 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 information.

Which Sub Registrar Office covers Ramana Nagar?

Ramana Nagar falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is essential during the registration process of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a value that reflects the prevailing rates in the area. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Ramana Nagar?

The current guideline value of Ramana Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 420 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 805% over the years.

What is the land classification of Ramana Nagar?

Ramana Nagar is classified under Residential Class II Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Ramana Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,66,000.