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 Potheri 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 seen several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 536 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 800 per sq.ft in 2023, and further rose to Rs 880 per sq.ft in the 2024 revision, reflecting an increase of 10% from the previous year. The register has no figure for this street in 2002, 2003, and 2007.

From 2017 to 2023, the increase was substantial at 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. The current value of Rs 880 per sq.ft is above the median value for Potheri, which is Rs 770 per sq.ft.

Guideline values in Potheri

Potheri has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The guideline value for Ramani Thottam (Ward-20) is above the median of Rs 770 per sq.ft. Below are the guideline values for other streets in Potheri:

• 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 rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that 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 Ramani Thottam (Ward-20)?

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

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

The guideline value is a crucial factor in the registration of property transactions in Potheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any unexpected costs 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 changed several times, with the most recent revision in 2024 increasing it to Rs 880 per sq.ft from Rs 800 per sq.ft in 2023. The value has seen fluctuations, including a drop to Rs 536 per sq.ft in 2017.

What is the land classification for Ramani Thottam?

Ramani Thottam is classified as Residential Class I Type - II, indicating its suitability for residential development.

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 stamp duty calculated for properties in Ramani Thottam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.