Guideline Value for Raman Thottam 1st Street

Raman Thottam 1st Street guideline value

The current guideline value of Raman Thottam 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Raman Thottam 1st Street has changed

The guideline value for Raman Thottam 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 329 per sq.ft, which increased to Rs 374 per sq.ft in 2003, marking a change of +14%. The value then saw a significant rise to Rs 1,200 per sq.ft in 2007, an increase of +221%. Following that, the value dropped to Rs 2,500 per sq.ft in 2012, reflecting a decrease of -33%. In 2017, the value rose again to Rs 1,675 per sq.ft, which was a +49% increase from the previous revision. The most recent revision was in 2023, where the value increased to Rs 2,500 per sq.ft, and then to Rs 2,800 per sq.ft in 2024, a change of +12%.

It is important to note that there are no figures available for revisions in years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by +751%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Raman Thottam 1st Street is below this median.

• Raman Thottam: Rs 2,800 per sq.ft (2024)
• Raman Thottam 2nd Street: Rs 2,800 per sq.ft (2024)
• Raman Street: Rs 2,800 per sq.ft (2024)
• Ram Nagar 2nd Main road: Rs 4,400 per sq.ft (2024)
• R. Mohanarangam Main road: Rs 5,500 per sq.ft (2024)
• Rajaji 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Raman Thottam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Please 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 Raman Thottam 1st Street?

The Sub Registrar Office that covers Raman Thottam 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial reference point during property registration in Nanganallur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that the transaction is documented at a value recognized by the government. This process aids in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Raman Thottam 1st Street?

The current guideline value of Raman Thottam 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 329 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of +751%.

What are the other streets in Nanganallur with the same guideline value?

Other streets in Nanganallur with the same guideline value of Rs 2,800 per sq.ft in 2024 include Raman Thottam, Raman Thottam 2nd Street, and Raman Street.

What are the stamp duty and registration fees for property in Raman Thottam 1st Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Raman Thottam 1st Street located?

The Sub Registrar Office for Raman Thottam 1st Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.