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 Sattamangalam 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

Over the years, the guideline value of Ramanayakkan Street has seen several revisions. The 2012 revision recorded a value of Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back up to Rs 600 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figure for Ramanayakkan Street for the years 2002, 2003, and 2007. Therefore, the first recorded value for this street is from 2012, which was Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which means that the 2024 value of Ramanayakkan Street 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

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

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is registered, the guideline value is used to determine the applicable taxes. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

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 back 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?

The land classification for Ramanayakkan Street (Ward -19) is Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Ramanayakkan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.