Guideline Value for Ramana Nagar Extention 6th Street

Ramana Nagar Extention 6th Street guideline value

The current guideline value of Ramana Nagar Extention 6th Street is Rs 1,900 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ramana Nagar Extention 6th Street has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2024, the value saw a significant increase of 58%, bringing the current guideline value to Rs 1,900 per sq.ft.

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

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with the 2024 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, making the current value for Ramana Nagar Extention 6th Street below the median.

• Ramana Nagar Extention 5th Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 4th Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 3rd Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 2nd Street: Rs 1,900 per sq.ft (2024)
• Ramana Nagar Extention 1st 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 6th 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, totaling Rs 1,71,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramana Nagar Extention 6th Street?

The Sub Registrar Office that covers Ramana Nagar Extention 6th 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 crucial during property transactions in Madambakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value serves as a benchmark to assess the transaction's legitimacy. It helps in maintaining transparency and fairness in property dealings, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramana Nagar Extention 6th Street?

The current guideline value of Ramana Nagar Extention 6th 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, then increased to Rs 1,900 per sq.ft in 2024. There has been a 58% increase from 2017 to 2024.

What is the land classification for this street?

The land classification for Ramana Nagar Extention 6th Street is Residential Class I Type - I.

What are the stamp duty and registration fees for a property 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.

Which Sub Registrar Office covers Ramana Nagar Extention 6th Street?

The Selaiyur Sub Registrar Office covers Ramana Nagar Extention 6th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.