Guideline Value for Ramana Nagar Extention 1st Street

Ramana Nagar Extention 1st Street guideline value

The current guideline value of Ramana Nagar Extention 1st 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 1st Street has changed

The guideline value for Ramana Nagar Extention 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then decreased to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to the 2024 revision, there has been a significant increase of 58%, bringing the current guideline value to Rs 1,900 per sq.ft.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

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 in the village is Rs 2,400 per sq.ft, indicating that the 2024 figure for Ramana Nagar Extention 1st Street is below this median.

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

Stamp duty and registration fee for property in Ramana Nagar Extention 1st 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, 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramana Nagar Extention 1st Street?

The Sub Registrar Office that covers Ramana Nagar Extention 1st 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 benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately in the official registers. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

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

The current guideline value of Ramana Nagar Extention 1st 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, marking a 58% rise from 2017 to 2024.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam that share the same guideline value of Rs 1,900 per sq.ft include Ramana Nagar Extention 2nd Street, Ramana Nagar Ext 6th Cross Street, Ramana Nagar Extention 3rd Street, Ramana Nagar Ext 5th Cross Street, and Ramana Nagar Extention 4th Street.

What is the registration fee for property in Ramana Nagar Extention 1st Street?

The registration fee for property in Ramana Nagar Extention 1st Street is calculated based on the guideline value. For a property valued at Rs 19,00,000, the registration fee would be Rs 38,000 at a rate of 2%.

Where is the Sub Registrar Office for Ramana Nagar Extention 1st Street located?

The Sub Registrar Office for Ramana Nagar Extention 1st Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.