Guideline Value for Ramani Iyer Nagar

Ramani Iyer Nagar guideline value

The current guideline value of Ramani Iyer Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Class V Type - III.

How the guideline value of Ramani Iyer Nagar has changed

The guideline value for Ramani Iyer Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 50 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a 700% rise. However, in 2017, the value adjusted to Rs 268 per sq.ft, which was a decrease of 33%. The next revision in 2023 brought the value back up to Rs 400 per sq.ft, and finally, the current value is Rs 440 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Ramani Iyer Nagar's current value is below this median.

• Ramakrishna Nagar: Rs 770 per sq.ft (2024)
• Ranganathapuram: Rs 880 per sq.ft (2024)
• Ranganathapuram Colony Extn I to III: Rs 880 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 990 per sq.ft (2024)
• R.M..G.Nagar: Rs 990 per sq.ft (2024)
• R.M.K. Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Ramani Iyer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Ramani Iyer Nagar?

The Sub Registrar Office that covers Ramani Iyer Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nandambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramani Iyer Nagar?

The current guideline value of Ramani Iyer Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the stamp duty rate for properties in Ramani Iyer Nagar?

The stamp duty rate for properties in Ramani Iyer Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramani Iyer Nagar?

The Sub Registrar Office for Ramani Iyer Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam is Rs 880 per sq.ft as of 2024.