Guideline Value for Ramanathan salai

Ramanathan salai guideline value

The current guideline value of Ramanathan salai is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Mixed Type - I.

How the guideline value of Ramanathan salai has changed

The guideline value for Ramanathan salai has undergone several revisions over the years. In 2002, the value was Rs 1,080 per sq.ft, which increased to Rs 1,675 per sq.ft in 2003, marking a 55% rise. The value then saw a further increase to Rs 2,000 per sq.ft in 2007, a change of 19%. The 2012 revision recorded a value of Rs 12,300 per sq.ft, reflecting a significant increase of 515% from the previous figure. However, the value dropped to Rs 8,241 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 12,300 per sq.ft, indicating a 49% increase. The most recent revision in 2024 sets the value at Rs 13,400 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1141%. The register has no figures for the years not mentioned.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value 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 salai's 2024 figure above this median.

• Ramanathan chetty street: Rs 11,000 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 salai

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value is Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, totaling Rs 12,06,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramanathan salai?

The Sub Registrar Office that covers Ramanathan salai 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 plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the value of the property for taxation and registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ramanathan salai?

The current guideline value of Ramanathan salai is Rs 13,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,080 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 1141% over this period.

What is the stamp duty rate for property transactions in Ramanathan salai?

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

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

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

What are the guideline values of other streets in Egmore?

Other streets in Egmore have varying guideline values, with Ramanathan chetty street at Rs 11,000 per sq.ft, RamaChandra Road at Rs 13,500 per sq.ft, and Rangachari Street at Rs 3,900 per sq.ft, among others.