Guideline Value for Ramanathan Street / Gandhi Nagar

Ramanathan Street / Gandhi Nagar guideline value

The current guideline value of Ramanathan Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ramanathan Street / Gandhi Nagar has changed

The guideline value for Ramanathan Street / Gandhi Nagar has seen significant changes over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 360 per sq.ft in 2007, showing a 69% change. By 2017, the guideline value rose dramatically to Rs 1,507 per sq.ft, reflecting a 319% increase from the previous revision. The 2023 revision set the value at Rs 2,250 per sq.ft, a 49% increase from 2017. The latest revision in 2024 has raised the value to Rs 2,475 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no figure available for Ramanathan Street / Gandhi Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by a remarkable 1216%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Ramanathan Street / Gandhi Nagar is above this median.

• Ramanathan Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Ramanujam Street (Meenakashi Nagar): Rs 1,980 per sq.ft (2024)
• Ramanujam Street (Thandai Periyar Nagar): Rs 1,980 per sq.ft (2024)
• Ramanujam Street (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Ramanuja Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Ramakrishna Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathan Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanathan Street / Gandhi Nagar?

The Sub Registrar Office that covers Ramanathan Street / Gandhi 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 information.

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

When buying or selling property in Pammal, the guideline value is crucial for determining the applicable stamp duty and registration fees. The guideline value serves as a benchmark for the property’s value and is used to calculate the taxes due at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value as it can influence the overall cost of the transaction. The guideline value is regularly updated, reflecting changes in the local real estate market.

Frequently asked questions

What is the current guideline value of Ramanathan Street / Gandhi Nagar?

The current guideline value of Ramanathan Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 188 per sq.ft to Rs 2,475 per sq.ft in 2024, which is an overall increase of 1216%.

What is the land classification for Ramanathan Street / Gandhi Nagar?

Ramanathan Street / Gandhi Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,22,750.

Which office handles registrations for Ramanathan Street / Gandhi Nagar?

The Pammal Sub Registrar Office handles registrations for Ramanathan Street / Gandhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.