Guideline Value for Ramana Nagar 4th Street

Ramana Nagar 4th Street guideline value

The current guideline value of Ramana Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramana Nagar 4th Street has changed

The guideline value for Ramana Nagar 4th Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure then decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, marking a rise of 59% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 7%. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2023.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that the 2024 figure for Ramana Nagar 4th Street is below this median.

• Ramana Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Ramana Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Ramana Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Ramana Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Ramana Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Ramana Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Ramana Nagar Ext 1st Cross Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ramana Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramana Nagar 4th Street?

The Sub Registrar Office that covers Ramana Nagar 4th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as a reference point for determining the minimum value at which a property can be registered. This ensures that the transaction is documented at a value that reflects the prevailing rates in the area.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ramana Nagar 4th Street?

The current guideline value of Ramana Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024, reflecting a decrease and then an increase over the years.

What is the land classification for Ramana Nagar 4th Street?

The land classification for Ramana Nagar 4th Street is Residential Class II Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,00,000, the stamp duty would be calculated at 7% on that amount.