Guideline Value for Ramana Nagar Ext 5th Cross Street

Ramana Nagar Ext 5th Cross Street guideline value

The current guideline value of Ramana Nagar Ext 5th 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 it falls under the Residential Class I Type - I land classification.

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

The guideline value for Ramana Nagar Ext 5th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%.

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 for these streets is Rs 2,400 per sq.ft, placing the 2024 figure for Ramana Nagar Ext 5th Cross Street below that median.

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

Stamp duty and registration fee for property in Ramana Nagar Ext 5th 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 amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Ramana Nagar Ext 5th Cross Street?

The Sub Registrar Office that covers Ramana Nagar Ext 5th 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 is a crucial factor when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the Registration Department and is based on various factors, including location and land classification.

When registering a property, the guideline value or the sale price, whichever is higher, is considered for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ramana Nagar Ext 5th Cross Street?

The current guideline value for Ramana Nagar Ext 5th 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 has remained at Rs 1,800 per sq.ft from 2012 to 2023 and increased to Rs 1,900 per sq.ft in 2024. Overall, this marks a 6% increase from 2012 to 2024.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam under the Selaiyur SRO have a range of guideline values. For example, Ramana Nagar Ext 4th Cross Street, 6th Cross Street, 3rd Cross Street, Extention, 2nd Cross Street, and Extention 1st Street all have a guideline value of Rs 1,900 per sq.ft in 2024.

What fees are associated with buying property in Ramana Nagar Ext 5th Cross Street?

When buying property, you will need to pay a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,71,000.

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

The Sub Registrar Office for Ramana Nagar Ext 5th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.