Guideline Value for Ramana Nagar Extention 3rd Street

Ramana Nagar Extention 3rd Street guideline value

The current guideline value of Ramana Nagar Extention 3rd 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 3rd Street has changed

The guideline value for Ramana Nagar Extention 3rd Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw the guideline value rise to Rs 1,900 per sq.ft, which is an increase of 58% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 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. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the 2024 figure for Ramana Nagar Extention 3rd Street below this median.

• Ramana Nagar Extention 2nd Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 4th Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 1st Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 5th Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 6th Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ramana Nagar Extention 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total to 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramana Nagar Extention 3rd Street?

The Sub Registrar Office that covers Ramana Nagar Extention 3rd 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 here.

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

The guideline value is a critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are charged based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Ramana Nagar Extention 3rd Street?

The current guideline value of Ramana Nagar Extention 3rd 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 seen changes from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, and then to Rs 1,900 per sq.ft in 2024. This reflects a decrease of 33% from 2012 to 2017, followed by an increase of 58% from 2017 to 2024.

What is the land classification for Ramana Nagar Extention 3rd Street?

Ramana Nagar Extention 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for this area?

The Selaiyur Sub Registrar Office handles registrations for Ramana Nagar Extention 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.