Guideline Value for Ramanatha Chetty Street

Ramanatha Chetty Street guideline value

The current guideline value of Ramanatha Chetty Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Ramanatha Chetty Street has changed

Over the years, the guideline value for Ramanatha Chetty Street has seen several revisions. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision then raised it to Rs 4,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 4,900 per sq.ft, marking a 9% rise from the previous year.

In terms of percentage changes, the value increased by 275% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial increase of 49% from 2017 to 2023. Overall, the guideline value has increased by 308% from the 2007 revision to the 2024 revision.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Ramanatha Chetty Street.

• Ramanuja Nagar: Rs 4,900 per sq.ft (2024)
• Raju Naicken Street: Rs 5,500 per sq.ft (2024)
• Rangaiah Naidu Street: Rs 4,900 per sq.ft (2024)
• Rangamannar Street: Rs 4,900 per sq.ft (2024)
• Rangasamy Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Reddy Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanatha Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Ramanatha Chetty Street?

The Ramanatha Chetty Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is often referenced to assess the appropriate charges. This ensures that the transaction is recorded accurately and that all necessary fees are collected based on the established rates.

Frequently asked questions

What is the current guideline value of Ramanatha Chetty Street?

The current guideline value of Ramanatha Chetty Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the land classification for Ramanatha Chetty Street?

Ramanatha Chetty Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.