Guideline Value for Ramani Nagar Extn PART-II

Ramani Nagar Extn PART-II guideline value

The current guideline value of Ramani Nagar Extn PART-II is Rs 2,530 per sq.ft. This area is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramani Nagar Extn PART-II has changed

Over the years, the guideline value for Ramani Nagar Extn PART-II has seen several revisions. The most recent revision, effective from 1 July 2024, sets the value at Rs 2,530 per sq.ft, up from Rs 2,300 per sq.ft in 2023, marking a 10% increase. Prior to that, the guideline value was Rs 1,541 per sq.ft in 2017, which reflects a significant increase of 49% over the six years. In the 2012 revision, the value was Rs 2,300 per sq.ft, indicating a decrease of 33% from the 2017 figure.

There are no available figures for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the current 2024 value, there has been a 10% increase, showcasing the fluctuations in the guideline value over the years.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ramani Nagar Extn PART-II's 2024 figure above this median.

• Ramani Nagar Extn: Rs 2,530 per sq.ft (2024)
• Ramani Nagar: Rs 3,300 per sq.ft (2024)
• Ramanujam Street: Rs 880 per sq.ft (2024)
• Rathinakumar Avenue: Rs 1,320 per sq.ft (2024)
• Rajesh Nager: Rs 1,100 per sq.ft (2024)
• Roja Thottam 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramani Nagar Extn PART-II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramani Nagar Extn PART-II?

The Sub Registrar Office that covers Ramani Nagar Extn PART-II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the area's market conditions.

When registering a property, buyers should be aware that the stamp duty is based on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the stamp duty will still be calculated based on the guideline value, potentially leading to higher costs for the buyer.

Frequently asked questions

What is the current guideline value of Ramani Nagar Extn PART-II?

The current guideline value of Ramani Nagar Extn PART-II is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,541 per sq.ft in 2017 to Rs 2,530 per sq.ft in 2024, with various revisions along the way, including Rs 2,300 per sq.ft in 2023 and Rs 2,300 per sq.ft in 2012.

What is the land classification for Ramani Nagar Extn PART-II?

Ramani Nagar Extn PART-II is classified as Residential Special Type - I, which indicates its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Ramani Nagar Extn PART-II?

The Sub Registrar Office for Ramani Nagar Extn PART-II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated in Ramani Nagar Extn PART-II?

Stamp duty in Ramani Nagar Extn PART-II is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,30,000 would incur a stamp duty of Rs 1,77,100.