Guideline Value for Ramanathan Nagar

Ramanathan Nagar guideline value

The current guideline value of Ramanathan Nagar is Rs 950 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Ramanathan Nagar has changed

The guideline value for Ramanathan Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, there was a significant drop to Rs 603 per sq.ft in 2017. The value then rose sharply to Rs 900 per sq.ft in 2023, and the current revision for 2024 is Rs 950 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 6%. The overall increase from the 2007 revision to the 2024 revision is 58%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Ramanathan Nagar's 2024 figure is below this median.

• Ramasamy Padaiyachi Street: Rs 1,100 per sq.ft (2024)
• Ramasamy Pandithar Street: Rs 850 per sq.ft (2024)
• Ramasamy Street: Rs 850 per sq.ft (2024)
• Rajkumar Avenue: Rs 1,600 per sq.ft (2024)
• Rajeswari Nagar Vijayalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Vidhyalakshmi Street: Rs 3,500 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees to Rs 85,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 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 Selaiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

Frequently asked questions

What is the current guideline value of Ramanathan Nagar?

The current guideline value of Ramanathan Nagar is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, showing an overall increase of 58% over the years.

What is the land classification for Ramanathan Nagar?

Ramanathan Nagar is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in Ramanathan Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property at the current rate would incur a total fee of Rs 85,500.

Where is the Sub Registrar Office for Ramanathan Nagar 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.