Guideline Value for Rama Lane

Rama Lane guideline value

The current guideline value for Rama Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Rama Lane has changed

The guideline value for Rama Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% increase. However, the value dropped to Rs 804 per sq.ft in the 2017 revision, a decrease of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 1,300 per sq.ft, reflecting a significant increase of 62% from the 2017 figure.

There are no figures available for the years 2023, 2003, and 2002 for Rama Lane. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which means that the guideline value for Rama Lane is below this median.

• Rama Naicken Street: Rs 2,200 per sq.ft (2024)
• Raman Street: Rs 2,200 per sq.ft (2024)
• Ramanujam Iyyer Street: Rs 2,200 per sq.ft (2024)
• Ramanujam Koodam Lane: Rs 2,200 per sq.ft (2024)
• Ramanujam Koodam Street: Rs 2,200 per sq.ft (2024)
• Ramdass Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rama Lane

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rama Lane?

The Sub Registrar Office covering Rama Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It determines the amount of stamp duty and registration fees payable, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Rama Lane?

The current guideline value of Rama Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What is the land classification for Rama Lane?

Rama Lane is classified as Residential Class II Type - I under the Royapuram SRO.

What are the stamp duty and registration fees for a property in Rama Lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Rama Lane?

The Royapuram Sub Registrar Office handles registrations for Rama Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.