Guideline Value for Raman Street

Raman Street guideline value

The current guideline value of Raman Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Raman Street has changed

The guideline value of Raman Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. Subsequently, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision and then rose again to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, the guideline values range from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Raman Street at Rs 2,200 per sq.ft is above this median.

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

Stamp duty and registration fee for property in Raman Street

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

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raman Street?

The Sub Registrar Office that covers Raman 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 plays a crucial role during property transactions in Tondaiarpet, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Raman Street?

The current guideline value of Raman 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for Raman Street?

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

Which Sub Registrar Office covers Raman Street?

The Royapuram Sub Registrar Office covers Raman Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Raman Street?

Raman Street is classified as Residential Class I Type - I under the guideline value register.