Guideline Value for RAMANUJAM GARDEN

Ramanujam Garden guideline value

The current guideline value of Ramanujam Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramanujam Garden has changed

The guideline value for Ramanujam Garden has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023 and further rose to Rs 1,700 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 shows an increase of 13%. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which aligns with the current value of Ramanujam Garden.

• Ramachari Garden: Rs 1,000 per sq.ft (2024)
• Ranganathan Garden: Rs 1,000 per sq.ft (2024)
• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)
• Rani Garden: Rs 1,700 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajeswari Garden: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramanujam Garden?

The Sub Registrar Office covering Ramanujam Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramanujam Garden?

The current guideline value of Ramanujam Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Ramanujam Garden?

Ramanujam Garden is classified as Residential Class IV Type - I.

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

The Neelankarai Sub Registrar Office covers Ramanujam Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.