Guideline Value for RAMANAYAKKAN STREET (WARD -19)

Ramanayakkan Street (Ward -19) guideline value

The current guideline value of Ramanayakkan Street (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramanayakkan Street (Ward -19) has changed

The guideline value for Ramanayakkan Street has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, there was a significant increase to Rs 600 per sq.ft in 2023, and then a further rise to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, indicating that Ramanayakkan Street's guideline value is below this median.

• Ramanujar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ramasamy Padayachiar Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Rajivgandhi Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar Rail Nagar (Ward -2): Rs 660 per sq.ft (2024)
• Rani Mangammal Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanayakkan Street (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanayakkan Street (Ward -19)?

The Chengleput Joint II Sub Registrar Office covers Ramanayakkan Street (Ward -19). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. This ensures that all parties involved in the property deal are informed of the financial obligations required for registration.

Frequently asked questions

What is the current guideline value of Ramanayakkan Street (Ward -19)?

The current guideline value of Ramanayakkan Street (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Ramanayakkan Street?

Ramanayakkan Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

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, for a plot valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.