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 Vallancheri village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

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

Over the years, the guideline value for Ramani Thottam has seen several revisions. The earliest available figure is from 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 800 per sq.ft in 2023, a rise of 49%, before reaching the current value of Rs 880 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 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 value for the village is Rs 825 per sq.ft, placing Ramani Thottam's 2024 figure above this median.

• Rajivgandhi Street (Ward-21): Rs 660 per sq.ft (2024)
• Rajeswari Nagar Main Road (Ward -1): Rs 880 per sq.ft (2024)
• Rajeshwari Nagar (Val): Rs 880 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 880 per sq.ft (2024)
• Rubi Avenue: Rs 1,100 per sq.ft (2024)
• Ruthra Avenue (Tai): Rs 880 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 amounts to 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, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 more details.

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

The guideline value is a critical factor in property transactions in Vallancheri, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to be informed about the current guideline value, as it can affect the overall cost of the property transaction and the legal obligations involved in 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 from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value in Vallancheri?

The median guideline value for the 134 streets in Vallancheri is Rs 825 per sq.ft, with Ramani Thottam's value being above this median.

What are the stamp duty and registration fees for properties in Ramani Thottam?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Ramani Thottam?

The Chengleput Joint II Sub Registrar Office covers Ramani Thottam (Ward-20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.