Guideline Value for RAMANUJAR STREET (WARD -4)

Ramanujar Street (Ward -4) guideline value

The current guideline value of Ramanujar Street (Ward -4) in Ninna Karai village is Rs 1,321 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Ramanujar Street (Ward -4) has changed

The guideline value for Ramanujar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then changed to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. Following that, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has further raised it to Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which means that Ramanujar Street's 2024 figure is above that median.

• Ramasamy Padayachiar Salai (Ward -8): Rs 1,321 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 660 per sq.ft (2024)
• Rajivgandhi Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Rani Mangammal Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Rajiv Gandhi Nagar Rail Nagar (Ward -2): Rs 660 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujar Street (Ward -4)

For a 1,000 sq.ft plot at the current rate of Rs 1,321 per sq.ft, the guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, while the registration fee at 2% would be Rs 26,420, resulting in a total of Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramanujar Street (Ward -4)?

The Sub Registrar Office that covers Ramanujar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramanujar Street (Ward -4)?

The current guideline value of Ramanujar Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Ramanujar Street?

Ramanujar Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for properties in Ramanujar Street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890.

Where can I find the Sub Registrar Office for Ramanujar Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can also find your SRO through the provided link.