Guideline Value for Ramani Nagar ( Ward No.25 )

Ramani Nagar ( Ward No.25 ) guideline value

The current guideline value for Ramani Nagar ( Ward No.25 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Ramani Nagar ( Ward No.25 ) has changed

In the 2012 revision, the guideline value for Ramani Nagar was recorded at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also listed the value at Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ramani Nagar ( Ward No.25 ) is below this median.

• Ramani Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Ramani Nagar: Rs 2,500 per sq.ft (2024)
• Raman Nagar: Rs 2,200 per sq.ft (2024)
• Raman Nagar, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Ramana Nagar / Extension: Rs 2,200 per sq.ft (2024)
• Ramana Avenue (Ward-08): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramani Nagar ( Ward No.25 )

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Ramani Nagar ( Ward No.25 )?

The Sub Registrar Office that covers Ramani Nagar ( Ward No.25 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in accordance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ramani Nagar ( Ward No.25 )?

The current guideline value of Ramani Nagar ( Ward No.25 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, representing an overall increase of 8%.

What is the land classification for Ramani Nagar?

Ramani Nagar is classified as Residential Class III Type - I under the Madhavaram SRO.

What are the stamp duty rates for property in Ramani Nagar?

The stamp duty is charged at a rate of 7% on the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Ramani Nagar ( Ward No.25 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.