Guideline Value for Ramamanthiram Street

Ramamanthiram Street guideline value

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

How the guideline value of Ramamanthiram Street has changed

The guideline value for Ramamanthiram Street has experienced several revisions over the years. Starting from the 2002 revision, the value was Rs 338 per sq.ft. This increased to Rs 367 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 800 per sq.ft in 2007, which was an increase of +118%. In 2012, the value was recorded at Rs 5,000 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 3,350 per sq.ft, which was a notable increase of +49% from 2012. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, marking an increase of +10%.

The overall change in guideline value from 2002 to 2024 is +1527%. There are no revisions with missing figures for Ramamanthiram Street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Ramamanthiram Street's 2024 figure above that median.

• Ramani Street: Rs 3,800 per sq.ft (2024)
• Raman Street: Rs 6,000 per sq.ft (2024)
• Ramakrishna Nagar (R.K.Nagar): Rs 3,800 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 3,800 per sq.ft (2024)
• Rangadass Reddy Colony & Streets: Rs 3,800 per sq.ft (2024)
• Redhills Road (Adjoinging Main Bazaar Street(Door No.1 to 57 and 134 to 167): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamanthiram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. 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 Ramamanthiram Street?

The Sub Registrar Office that covers Ramamanthiram Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and avoid any potential issues during the registration process. The guideline value reflects the official valuation set by the authorities and is updated periodically to reflect market conditions.

Frequently asked questions

What is the current guideline value of Ramamanthiram Street?

The current guideline value of Ramamanthiram 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 from Rs 338 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1527% over the years.

What is the land classification for Ramamanthiram Street?

The land classification for Ramamanthiram Street is Residential Class I Type - I.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.