Guideline Value for Ramana Nagar Extention 5th Street

Ramana Nagar Extention 5th Street guideline value

The current guideline value of Ramana Nagar Extention 5th 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 5th Street has changed

The guideline value for Ramana Nagar Extention 5th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, reflecting a change of -33%. However, the most recent revision in 2024 shows an increase to Rs 1,900 per sq.ft, marking a significant rise of 58% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 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 in this village is Rs 2,400 per sq.ft, indicating that the 2024 figure for Ramana Nagar Extention 5th Street is below this median.

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

Stamp duty and registration fee for property in Ramana Nagar Extention 5th 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, while the registration fee at 2% would be Rs 38,000. Together, the total cost for stamp duty and registration fee would be Rs 1,71,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Ramana Nagar Extention 5th Street?

The Sub Registrar Office that covers Ramana Nagar Extention 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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the buyer must pay the stamp duty and registration fees calculated on the higher of the guideline value or the sale price. This ensures transparency and compliance with legal requirements during the property registration process.

Frequently asked questions

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

The current guideline value of Ramana Nagar Extention 5th 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, and then increased to Rs 1,900 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

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

Ramana Nagar Extention 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total cost for these fees would be Rs 1,71,000.

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

The Sub Registrar Office covering Ramana Nagar Extention 5th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.