Guideline Value for Ramaiah Street

Ramaiah Street guideline value

The current guideline value of Ramaiah Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village, under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramaiah Street has changed

The guideline value for Ramaiah Street has undergone several revisions over the years. In 2002, the value was Rs 650 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2007, marking an increase of 85%. The value then rose dramatically to Rs 5,000 per sq.ft in 2012, reflecting a substantial increase of 317%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. Following this, the value rose again to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024, showing a 10% increase from the previous year. The register has no figure for this street for the year 2003.

Guideline values in Aminjikarai

Aminjikarai features 99 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft as of 2024. The median guideline value for the area is Rs 4,400 per sq.ft, placing Ramaiah Street's 2024 value above this median.

• Rajammal Street: Rs 4,400 per sq.ft (2024)
• R.V. Nagar 1st Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 2nd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 3rd Cross Street: Rs 6,600 per sq.ft (2024)
• Pulla Avenue: Rs 16,500 per sq.ft (2024)
• R.V. Nagar Ist 2nd, 3rd Street, 4th street (D Block): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaiah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramaiah Street?

The Sub Registrar Office that covers Ramaiah Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is an essential reference for property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramaiah Street?

The current guideline value of Ramaiah Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 650 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 746%.

What is the registration office for Ramaiah Street?

The registration office for Ramaiah Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ramaiah Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.

What is the median guideline value in Aminjikarai?

The median guideline value in Aminjikarai is Rs 4,400 per sq.ft as of 2024, with Ramaiah Street's value being above this median.