Guideline Value for Rama Naicken Street

Rama Naicken Street guideline value

The current guideline value of Rama Naicken Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rama Naicken Street has changed

Over the years, the guideline value of Rama Naicken Street has undergone several revisions. The oldest recorded figure is from 2007, when it was Rs 900 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 122% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The latest revision in 2024 shows a substantial increase to Rs 2,200 per sq.ft, which is a 64% rise from the previous figure.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, making the 2024 guideline value of Rama Naicken Street above the median.

• 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)
• Rama Lane: Rs 1,300 per sq.ft (2024)
• Ramdass Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rama Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rama Naicken Street?

The Sub Registrar Office that covers Rama Naicken Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps to ascertain the financial obligations of the buyer. This value is used to calculate the stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Rama Naicken Street?

The current guideline value of Rama Naicken Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 144% over this period.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Rama Naicken Street's 2024 value being above this median.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Rama Naicken Street?

The Royapuram Sub Registrar Office handles the registration for Rama Naicken Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.