Guideline Value for Ramana Nagar Extention

Ramana Nagar Extention guideline value

The current guideline value of Ramana Nagar Extention in Madambakkam village is Rs 1,900 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Ramana Nagar Extention has changed

The guideline value for Ramana Nagar Extention has seen a revision from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, marking a change of +6%. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Prior to the 2012 revision, the guideline value for this street was Rs 1,800 per sq.ft. The changes in the guideline values reflect the updates made by the Registration Department, which is responsible for maintaining these records.

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 value for these streets is Rs 2,400 per sq.ft, placing the 2024 guideline value of Ramana Nagar Extention below this median.

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

Stamp duty and registration fee for property in Ramana Nagar Extention

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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramana Nagar Extention?

The Sub Registrar Office that covers Ramana Nagar Extention 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 reference point for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate taxes based on the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Ramana Nagar Extention?

The current guideline value of Ramana Nagar Extention is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, reflecting a +6% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of land in Ramana Nagar Extention?

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

What are the stamp duty rates applicable in Ramana Nagar Extention?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable to the transaction.

Where is the Selaiyur Sub Registrar Office located?

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