Guideline Value for RAMANUJAM GARDEN LANE

Ramanujam Garden Lane guideline value

The current guideline value of Ramanujam Garden Lane is Rs 5,500 per sq.ft. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramanujam Garden Lane has changed

The guideline value for Ramanujam Garden Lane has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then saw a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision brought it back up to Rs 5,000 per sq.ft, and the latest revision in 2024 set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most notable changes occurred from 2007 to 2012, with a staggering increase of 355%. The value then decreased by 33% from 2012 to 2017, before rising by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 400%. The register has no figures for this street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which aligns with the current guideline value for Ramanujam Garden Lane.

• Ramanujam Garden Street: Rs 5,500 per sq.ft (2024)
• Ramaswamy Pillai Street: Rs 6,000 per sq.ft (2024)
• Raju Pillai Street: Rs 5,500 per sq.ft (2024)
• Raju Lane: Rs 5,500 per sq.ft (2024)
• Rangaiah Chetty Street: Rs 6,500 per sq.ft (2024)
• Ranganathan Avenue: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Garden Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for stamp duty and registration fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanujam Garden Lane?

The Sub Registrar Office that covers Ramanujam Garden Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value is regularly updated, reflecting changes in the real estate landscape and ensuring that property transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of Ramanujam Garden Lane?

The current guideline value of Ramanujam Garden Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Ramanujam Garden Lane?

Ramanujam Garden Lane is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ramanujam Garden Lane?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Ramanujam Garden Lane.

How is the stamp duty calculated for properties in Ramanujam Garden Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total of Rs 4,95,000 in stamp duty and registration fees.