Guideline Value for RAYAM RAMANUJAM IYYENGAR STREET

Rayam Ramanujam Iyyengar Street guideline value

The current guideline value of Rayam Ramanujam Iyyengar Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village and falls under the Madurandakam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Rayam Ramanujam Iyyengar Street has changed

The guideline value for Rayam Ramanujam Iyyengar Street has undergone several revisions over the years. The 2007 revision set the value at Rs 350 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this value decreased to Rs 670 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest 2024 revision has increased it further to Rs 1,110 per sq.ft, marking an 11% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 217%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Rayam Ramanujam Iyyengar Street's 2024 figure above that median.

• Renga Nagar: Rs 1,110 per sq.ft (2024)
• RANGASAMY NAIKAR (a) KANNAKKAR STREET: Rs 1,110 per sq.ft (2024)
• Ranga Nagar: Rs 1,100 per sq.ft (2024)
• RANGACHARI STREET (a) RANGAN STREET: Rs 1,110 per sq.ft (2024)
• Ramachandra Nagar: Rs 775 per sq.ft (2024)
• Rajagopal Mudali Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Rayam Ramanujam Iyyengar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty is charged at 7%, resulting in Rs 77,700, while the registration fee at 2% amounts to Rs 22,200. Together, the total fees would be Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rayam Ramanujam Iyyengar Street?

The Sub Registrar Office that covers Rayam Ramanujam Iyyengar Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a buyer decides to purchase a property, the guideline value will be checked to ensure that the appropriate taxes are calculated based on either the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps in the smooth registration of the property.

Frequently asked questions

What is the current guideline value of Rayam Ramanujam Iyyengar Street?

The current guideline value of Rayam Ramanujam Iyyengar Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 350 per sq.ft to Rs 1,110 per sq.ft in 2024, marking a total increase of 217% over the years.

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

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900.

Which office handles property registration for Rayam Ramanujam Iyyengar Street?

The Madurandakam Sub Registrar Office handles property registration for Rayam Ramanujam Iyyengar Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

What is the median guideline value for streets in Mathuranthagam?

The median guideline value for streets in Mathuranthagam is Rs 1,100 per sq.ft, with Rayam Ramanujam Iyyengar Street's 2024 figure being above this median.