Guideline Value for RAMANUJAM STREET

Ramanujam Street guideline value

The current guideline value of Ramanujam Street is Rs 3,700 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Ramanujam Street has changed

The guideline value for Ramanujam Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 308 per sq.ft. This increased to Rs 363 per sq.ft in 2003, reflecting an 18% rise. The value saw a significant jump to Rs 900 per sq.ft in 2007, marking a 148% increase. In 2012, the guideline value was Rs 3,400 per sq.ft, showing a notable increase of 278% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,278 per sq.ft, a decline of 33%. The guideline value then increased to Rs 3,400 per sq.ft in 2023, before reaching the current value of Rs 3,700 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1101%. There are no figures available for revisions in the years not mentioned in the provided data.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Ramanujam Street's 2024 value above this median.

• Ramanathapuram: Rs 1,900 per sq.ft (2024)
• Ramasamy Mudaliyar Nagar: Rs 1,300 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,300 per sq.ft (2024)
• Raja Shanmugam Nagar/ Extension/Cross Streets: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value would be Rs 37,00,000. The stamp duty at 7% would amount to Rs 2,59,000, and the registration fee at 2% would be Rs 74,000. Together, the total fees would be Rs 3,33,000. It is important to note that the 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 Ramanujam Street?

The Sub Registrar Office that covers Ramanujam Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Ramanujam Street?

The current guideline value of Ramanujam Street is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 308 per sq.ft in 2002 to Rs 3,700 per sq.ft in 2024, reflecting a significant overall increase of 1101%.

What is the land classification for Ramanujam Street?

The land classification for Ramanujam Street is Mixed Special Type - II.

What are the stamp duty and registration fees for a property in Ramanujam Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 37,00,000, leading to a stamp duty of Rs 2,59,000 and a registration fee of Rs 74,000, totaling Rs 3,33,000.

Which office handles the registration for Ramanujam Street?

The registration for Ramanujam Street is handled by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.