Guideline Value for Ramanathan chetty street

Ramanathan chetty street guideline value

The current guideline value of Ramanathan chetty street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Ramanathan chetty street has changed

The guideline value for Ramanathan chetty street has undergone several revisions over the years. Starting with the 2002 revision, the value was Rs 1,080 per sq.ft. This increased to Rs 1,191 per sq.ft in the 2003 revision, marking a change of +10%. The 2007 revision saw a significant rise to Rs 3,000 per sq.ft, which is an increase of +152%. In the 2012 revision, the value was Rs 10,000 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision recorded a value of Rs 6,700 per sq.ft, showing an increase of +49% from 2012. The 2023 revision set the value at Rs 10,000 per sq.ft, and the latest 2024 revision has increased it to Rs 11,000 per sq.ft, which is a change of +10% from the previous year.

There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Ramanathan chetty street's 2024 figure above that median.

• Ramanathan salai: Rs 13,400 per sq.ft (2024)
• RamaChandra Road: Rs 13,500 per sq.ft (2024)
• Rangachari Street: Rs 3,900 per sq.ft (2024)
• Ranganatha puram 1st street: Rs 7,100 per sq.ft (2024)
• Rangathapuram 2nd street: Rs 7,100 per sq.ft (2024)
• RajaRathinam Street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathan chetty street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for stamp duty and registration fee would be Rs 9,90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramanathan chetty street?

The Sub Registrar Office that covers Ramanathan chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It determines the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the costs involved based on the official valuation of the property.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramanathan chetty street?

The current guideline value of Ramanathan chetty street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,080 in 2002 to Rs 11,000 in 2024, reflecting an overall increase of +919% over the years.

What is the land classification for Ramanathan chetty street?

The land classification for Ramanathan chetty street is Residential Class I Type - II, indicating its suitability for residential development.

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

The stamp duty for property transactions is 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Ramanathan chetty street?

The Sub Registrar Office for Ramanathan chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.