Guideline Value for Ramanathan Nagar

Ramanathan Nagar guideline value

The current guideline value of Ramanathan Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Ramanathan Nagar has changed

The guideline value for Ramanathan Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, marking a substantial rise of 235%. By 2023, the value further increased to Rs 2,000 per sq.ft, which represents a 49% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2023 figure.

There are no figures available for the revisions in 2002, 2003, and 2012 for Ramanathan Nagar. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Ramanathan Nagar is above this median.

• Ramanathan Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ramanthan Nagar Salai: Rs 2,200 per sq.ft (2024)
• Ramanthan Nagar Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ramachandrapillai Aveune: Rs 1,320 per sq.ft (2024)
• Ramachandrapillai 2nd Street: Rs 1,320 per sq.ft (2024)
• Ramachandrapillai 1st Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanathan Nagar?

The Sub Registrar Office that covers Ramanathan Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Pozhichalur, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to accurately assess the costs involved in the registration process. This knowledge helps in planning the financial aspects of property transactions effectively.

Frequently asked questions

What is the current guideline value of Ramanathan Nagar?

The current guideline value of Ramanathan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450%.

What are the stamp duty rates for property in Ramanathan Nagar?

The stamp duty for property transactions in Ramanathan Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ramanathan Nagar located?

The Sub Registrar Office for Ramanathan Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the classification of land in Ramanathan Nagar?

The land classification for Ramanathan Nagar is Commercial Class I Type - I, which indicates its intended use for commercial purposes.