Guideline Value for Ramanathan Street

Ramanathan Street guideline value

The current guideline value of Ramanathan Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Ramanathan Street has changed

The guideline value for Ramanathan Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,577 per sq.ft, which increased to Rs 3,285 per sq.ft in 2007, marking a rise of 108%. The value then jumped to Rs 8,000 per sq.ft in 2012, a substantial increase of 144%. However, it dropped to Rs 5,360 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 8,000 per sq.ft in 2023, and most recently, it has reached Rs 8,800 per sq.ft in the 2024 revision, showing a 10% increase from the previous year.

There is no figure available for Ramanathan Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 458%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current value of Ramanathan Street.

• Ramanaicken Street: Rs 8,800 per sq.ft (2024)
• Ramanaicken Lane (Ramalane): Rs 7,100 per sq.ft (2024)
• Ramanujam Street: Rs 7,700 per sq.ft (2024)
• Ramasamy Street: Rs 7,700 per sq.ft (2024)
• Ranganathan Street: Rs 7,700 per sq.ft (2024)
• Rangoon Street (Slum Area): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathan Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramanathan Street?

The Sub Registrar Office that covers Ramanathan Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers need to pay when acquiring property.

When selling property, the guideline value helps in establishing the minimum value at which a property can be sold. This ensures that the transaction is transparent and adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ramanathan Street?

The current guideline value of Ramanathan Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,577 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, an overall increase of 458%.

What is the land classification for Ramanathan Street?

The land classification for Ramanathan Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Ramanathan Street?

The Sub Registrar Office for Ramanathan Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties on Ramanathan Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.