Guideline Value for Ramanathapuram Street

Ramanathapuram Street guideline value

The current guideline value of Ramanathapuram Street in Parangimalai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Ramanathapuram Street has changed

The guideline value of Ramanathapuram Street has seen several revisions over the years. In 2002, the guideline value was Rs 236 per sq.ft. This increased to Rs 320 per sq.ft in 2003, marking a 36% rise. The value then rose significantly to Rs 750 per sq.ft in 2007, which was a 134% increase. Following that, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial 300% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, which was a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

It is important to note that there are no figures available for the years not mentioned in the revisions above. The overall change from 2002 to 2024 is an increase of 1,298%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Ramanathapuram Street's 2024 figure below that median.

• Ramar Koil Street: Rs 3,300 per sq.ft (2024)
• Ramasamy Bandhu Lane: Rs 3,850 per sq.ft (2024)
• Rajeswari Colony: Rs 2,750 per sq.ft (2024)
• Raja Street Main: Rs 3,850 per sq.ft (2024)
• Raja Street 9th Lane: Rs 3,850 per sq.ft (2024)
• Raja Street 8th Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanathapuram Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that 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 Ramanathapuram Street?

The Sub Registrar Office covering Ramanathapuram Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to determine the applicable charges. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramanathapuram Street?

The current guideline value of Ramanathapuram Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 236 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,298% over this period.

What are the stamp duty and registration fees for a property in Ramanathapuram Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value of Rs 33,00,000.

Which Sub Registrar Office covers Ramanathapuram Street?

The Chennai South Joint II Sub Registrar Office covers Ramanathapuram Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Ramanathapuram Street?

Ramanathapuram Street is classified as Residential Class II Type - II, indicating its use for residential purposes within the area.