Guideline Value for Ramani Nagar Extn

Ramani Nagar Extn guideline value

The current guideline value of Ramani Nagar Extn, located in Irumpuliyur village under the Tambaram Joint 1 SRO, is Rs 2,530 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Ramani Nagar Extn has changed

Over the years, the guideline value of Ramani Nagar Extn has seen several revisions. The 2012 revision recorded a value of Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 2,530 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Ramani Nagar Extn is above this median.

• Ramani Nagar: Rs 3,300 per sq.ft (2024)
• Ramani Nagar Extn PART-II: Rs 2,530 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

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, charged at 7%, would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600. Together, the total costs would be Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramani Nagar Extn?

The Sub Registrar Office that covers Ramani Nagar Extn 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Irumpuliyur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these fees are based on a standardized value rather than the negotiated sale price.

When registering a property, buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramani Nagar Extn?

The current guideline value of Ramani Nagar Extn 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 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Ramani Nagar Extn?

Ramani Nagar Extn falls under the Residential Special Type - I land classification, which is designated for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Ramani Nagar Extn is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Ramani Nagar Extn is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.