Guideline Value for RAMARETTIPALAYAM & MAIN ROAD

Ramarettipalayam & Main Road guideline value

The current guideline value of Ramarettipalayam & Main Road is Rs 550 per sq.ft, effective from 1 July 2024. This location is situated in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Ramarettipalayam & Main Road has changed

The guideline value for Ramarettipalayam & Main Road has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase to Rs 550 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which aligns with the current guideline value of Ramarettipalayam & Main Road.

• Ramarettipalayam Colony: Rs 550 per sq.ft (2024)
• Ramathilagam Avenue: Rs 550 per sq.ft (2024)
• Ramana Nagar: Rs 880 per sq.ft (2024)
• Ramamoorthy Street: Rs 550 per sq.ft (2024)
• Ramshankar Nagar: Rs 550 per sq.ft (2024)
• Rangha Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Ramarettipalayam & Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramarettipalayam & Main Road?

The Sub Registrar Office that covers Ramarettipalayam & Main Road is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Minjur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration, ensuring that the transaction is legally documented and compliant with local regulations.

When a property is registered, the guideline value is compared to 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.

Frequently asked questions

What is the current guideline value of Ramarettipalayam & Main Road?

The current guideline value of Ramarettipalayam & Main Road is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking a total increase of 64% over these years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles the registration for Ramarettipalayam & Main Road?

The Ponneri Sub Registrar Office handles the registration for Ramarettipalayam & Main Road, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Ramarettipalayam & Main Road?

Ramarettipalayam & Main Road is classified as Residential Class II Type - I.