Guideline Value for Ramana Nagar Ext 1st Cross Street

Ramana Nagar Ext 1st Cross Street guideline value

The current guideline value of Ramana Nagar Ext 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ramana Nagar Ext 1st Cross Street has changed

The guideline value for Ramana Nagar Ext 1st Cross Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,800 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,900 per sq.ft, marking a change of +6% from the previous figure.

There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1,151 streets under the Selaiyur SRO that carry a guideline value for 2024, 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 Ramana Nagar Ext 1st Cross Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Ramana Nagar Ext 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramana Nagar Ext 1st Cross Street?

The Sub Registrar Office that covers Ramana Nagar Ext 1st Cross 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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the Registration Department.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ramana Nagar Ext 1st Cross Street?

The current guideline value of Ramana Nagar Ext 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, representing a change of +6%. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. The guideline value of Ramana Nagar Ext 1st Cross Street is below this median.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ramana Nagar Ext 1st Cross 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. This office covers the registration for properties in this area.