Guideline Value for Ramana Nagar Extention 2nd Street

Ramana Nagar Extention 2nd Street guideline value

The current guideline value of Ramana Nagar Extention 2nd 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 Extention 2nd Street has changed

The guideline value for Ramana Nagar Extention 2nd Street was last revised in 2024, where it increased to Rs 1,900 per sq.ft from Rs 1,800 per sq.ft in the 2012 revision, marking a change of +6%. Notably, there are no figures available for the years 2023, 2017, 2007, 2003, and 2002 in the register for this street.

Prior to the 2024 revision, the 2012 guideline value was Rs 1,800 per sq.ft. This was the only recorded figure for this street, as the register does not contain values for the intervening years. The absence of figures for other years indicates that the guideline value remained unchanged during those periods.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values 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 Extention 2nd Street below this median.

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

Stamp duty and registration fee for property in Ramana Nagar Extention 2nd 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 or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs based on the guideline value.

Which Sub Registrar Office covers Ramana Nagar Extention 2nd Street?

The Sub Registrar Office that covers Ramana Nagar Extention 2nd 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 in property transactions in Madambakkam. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value helps determine the official value of the property for taxation purposes. It is important to be aware of the current guideline value to avoid discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Ramana Nagar Extention 2nd Street?

The current guideline value of Ramana Nagar Extention 2nd 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. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Ramana Nagar Extention 2nd Street?

Ramana Nagar Extention 2nd Street is classified as Residential Class I Type - I, indicating its designation for residential use.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total costs would be Rs 1,71,000.

Which office handles registrations for Ramana Nagar Extention 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Ramana Nagar Extention 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.