Guideline Value for Ramana Nagar 5th Street

Ramana Nagar 5th Street guideline value

The current guideline value of Ramana Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Ramana Nagar 5th Street has changed

The guideline value for Ramana Nagar 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. In 2017, this value decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, followed by a further rise to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase from the previous year.

Between 2017 and 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 7%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,400 per sq.ft. Ramana Nagar 5th Street's 2024 figure of Rs 1,600 per sq.ft is below this median.

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

Stamp duty and registration fee for property in Ramana Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramana Nagar 5th Street?

The Sub Registrar Office that covers Ramana Nagar 5th 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 information.

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

When buying or selling property in Madambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is accurately recorded in the official register.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions. This helps in planning for the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Ramana Nagar 5th Street?

The current guideline value of Ramana Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with a notable increase of 49% from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

What is the land classification for Ramana Nagar 5th Street?

Ramana Nagar 5th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,600 per sq.ft incurs a total fee of Rs 1,44,000.

Where is the Sub Registrar Office for Ramana Nagar 5th Street located?

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