Guideline Value for Raman Thottam

Raman Thottam guideline value

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

How the guideline value of Raman Thottam has changed

The guideline value for Raman Thottam has seen several revisions over the years. In 2002, the value was Rs 329 per sq.ft, which increased to Rs 374 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly to Rs 1,200 per sq.ft in 2007, reflecting a 221% increase. By 2012, the value was Rs 2,500 per sq.ft, showing a 108% increase from the previous revision. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 751%. The revisions from 2017 to 2023 saw a significant rise of 49%, while there are no figures available in the register for other years regarding this street.

Guideline values in Nanganallur

Nanganallur has a range of guideline values across its 155 streets under the Alandur SRO, with values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value in this village is Rs 3,900 per sq.ft, placing Raman Thottam's 2024 figure below that median.

• Raman Thottam 1st Street: 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

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 is charged at 7%, amounting to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Raman Thottam?

The Sub Registrar Office that covers Raman Thottam 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Raman Thottam?

The current guideline value of Raman Thottam 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 changed from Rs 329 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 751% over the years.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur is Rs 3,900 per sq.ft, with Raman Thottam's 2024 figure being below this median.

What are the stamp duty rates for properties in Raman Thottam?

The stamp duty for properties in Raman Thottam is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Raman Thottam located?

The Alandur Sub Registrar Office, which covers Raman Thottam, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.