Guideline Value for RAMANATHAPURAM

Ramanathapuram guideline value

The current guideline value for Ramanathapuram, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramanathapuram has changed

The guideline value of Ramanathapuram has undergone several revisions since 2002. In 2002, the guideline value was Rs 121 per sq.ft, which increased to Rs 143 per sq.ft in 2003. The value saw a significant rise to Rs 500 per sq.ft in 2007, followed by a further increase to Rs 1,800 per sq.ft in 2012. However, it then decreased to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,900 per sq.ft as of the 2024 revision. Notably, there are no figures for revisions in the years not listed in the register.

From 2002 to 2024, the overall increase in guideline value is 1,470%. The changes between revisions include a 6% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a substantial 260% increase from 2007 to 2012, a 250% increase from 2003 to 2007, and an 18% increase from 2002 to 2003.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Ramanathapuram is below this median.

• Ramanujam Street: Rs 3,700 per sq.ft (2024)
• Ramasamy Mudaliyar Nagar: Rs 1,300 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,300 per sq.ft (2024)
• Raja Shanmugam Nagar/ Extension/Cross Streets: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathapuram

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 details.

Which Sub Registrar Office covers Ramanathapuram?

The Ramanathapuram area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the transaction process. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Ramanathapuram?

The current guideline value for Ramanathapuram is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 121 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 1,470% over this period.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Ramanathapuram is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value in Thiruvottiyur?

The median guideline value for streets in Thiruvottiyur is Rs 3,300 per sq.ft, with Ramanathapuram's value being below this median.