Guideline Value for RAMANI THOTTAM (WARD-20)

Ramani Thottam (Ward-20) guideline value

The current guideline value of Ramani Thottam (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Ramani Thottam (Ward-20) has changed

The guideline value for Ramani Thottam has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, and in the latest revision for 2024, it has further risen to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the changes in guideline value per sq.ft are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Ramani Thottam's 2024 figure above that median.

• Rajivgandhi Street (Ward-21): Rs 660 per sq.ft (2024)
• Rajeswari Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Ruthra Avenue (Tai): Rs 880 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ramani Thottam (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property.

Which Sub Registrar Office covers Ramani Thottam (Ward-20)?

The Sub Registrar Office that covers Ramani Thottam (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for any further inquiries.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konathi. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it directly impacts the costs associated with registration. Buyers and sellers should ensure that they are informed about the current rates to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Ramani Thottam (Ward-20)?

The current guideline value of Ramani Thottam (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, and then increasing to Rs 800 per sq.ft in 2023, followed by Rs 880 per sq.ft in 2024.

What is the land classification for Ramani Thottam?

The land classification for Ramani Thottam (Ward-20) is Residential Class I Type - II.

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, Chengalpattu registration zone.

How is the stamp duty calculated for property in Ramani Thottam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000, leading to a stamp duty of Rs 61,600.