Guideline Value for RAMATHILAGAM AVENUE

Ramathilagam Avenue guideline value

The current guideline value of Ramathilagam Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Ramathilagam Avenue has changed

The guideline value for Ramathilagam Avenue has seen several revisions 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. The latest revision in 2024 has raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The significant changes between revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

Guideline values in Minjur

In Minjur village, 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 guideline value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of Ramathilagam Avenue.

• Ramarettipalayam & Main Road: Rs 550 per sq.ft (2024)
• Ramarettipalayam Colony: 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 Ramathilagam Avenue

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 charges to Rs 49,500. 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 Ramathilagam Avenue?

The Sub Registrar Office that covers Ramathilagam Avenue 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 is an important factor in the registration process when buying or selling property in Minjur. 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 registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ramathilagam Avenue?

The current guideline value of Ramathilagam Avenue 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 is the land classification for Ramathilagam Avenue?

Ramathilagam Avenue is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Minjur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a total guideline value of Rs 5,50,000, with stamp duty and registration fees calculated accordingly.