Guideline Value for RAMANATHAN STREET

Ramanathan Street guideline value

The current guideline value of Ramanathan Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the jurisdiction of the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Ramanathan Street has changed

Looking at the historical revisions, the guideline value for Ramanathan Street has seen significant changes. In 2002, the value was Rs 2,321 per sq.ft, which increased to Rs 3,200 per sq.ft in 2003, marking a 38% rise. The value further rose to Rs 4,000 per sq.ft in 2007, reflecting a 25% increase. By 2012, the value had jumped to Rs 12,000 per sq.ft, a substantial 200% increase. However, from 2012 to 2017, the value decreased to Rs 8,040 per sq.ft, indicating a decline of 33%. The value then rose again to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 469%. There are no figures available for revisions in years other than those listed.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Ramanathan Street's 2024 figure above this median.

• Raman Street: Rs 14,300 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)
• Ramakrishna Street (Other Than D.No.1 Kences Towers Residencial Complex): Rs 27,500 per sq.ft (2024)
• Ramakrishna Street (D.No 1.Kences Tower Commercial Complex) facing To North Usaman Road: Rs 27,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathan Street

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 Ramanathan Street?

The Sub Registrar Office that covers Ramanathan Street 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 is a crucial factor in property transactions in Tnagar, as it determines the minimum value at which properties can be registered. When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the guideline value in their respective areas, as it influences the overall cost of property transactions. The guideline value serves as a benchmark for both parties during negotiations and final agreements.

Frequently asked questions

What is the current guideline value of Ramanathan Street?

The current guideline value of Ramanathan Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 2,321 per sq.ft to Rs 13,200 per sq.ft in 2024, marking an overall increase of 469% over this period.

What is the land classification of Ramanathan Street?

Ramanathan Street is classified as Mixed Special Type - II, indicating its diverse land use and potential for various types of developments.

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

The Sub Registrar Office for Ramanathan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at a rate of 7%.